Eos Management L.P. Sells 30,382 Shares of AppLovin Corporation (NASDAQ:APP)

Eos Management L.P. lessened its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 59.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,331 shares of the company's stock after selling 30,382 shares during the period. AppLovin comprises 2.4% of Eos Management L.P.'s investment portfolio, making the stock its 15th biggest holding. Eos Management L.P.'s holdings in AppLovin were worth $5,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in APP. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin in the 4th quarter valued at about $25,000. Tucker Asset Management LLC purchased a new stake in AppLovin in the 4th quarter valued at about $28,000. Atala Financial Inc purchased a new stake in AppLovin in the 1st quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in shares of AppLovin during the 1st quarter valued at approximately $29,000. Finally, Alpine Bank Wealth Management bought a new position in shares of AppLovin during the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 400,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the transaction, the director owned 221,209 shares in the company, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 100,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total transaction of $36,751,000.00. Following the completion of the transaction, the chief executive officer owned 2,760,363 shares in the company, valued at $1,014,461,006.13. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 in the last 90 days. 13.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Loop Capital reissued a "buy" rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. FBN Securities assumed coverage on shares of AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price for the company. Jefferies Financial Group increased their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wedbush raised shares of AppLovin to a "strong-buy" rating in a report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $438.43.

AppLovin Price Performance

Shares of AppLovin stock traded down $11.22 on Friday, hitting $335.10. 3,575,879 shares of the company traded hands, compared to its average volume of 6,254,586. The firm's 50-day simple moving average is $358.23 and its 200 day simple moving average is $334.28. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. The company has a market cap of $113.39 billion, a P/E ratio of 60.49, a P/E/G ratio of 2.00 and a beta of 2.42. AppLovin Corporation has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The firm's revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.