Epoch Investment Partners Inc. Sells 42,428 Shares of AppLovin Corporation $APP

Epoch Investment Partners Inc. cut its holdings in AppLovin Corporation (NASDAQ:APP) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,379 shares of the company’s stock after selling 42,428 shares during the quarter. Epoch Investment Partners Inc.’s holdings in AppLovin were worth $63,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its stake in AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Board of the Pension Protection Fund bought a new position in AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new position in AppLovin in the fourth quarter valued at approximately $32,000. Graney & King LLC bought a new position in AppLovin in the third quarter valued at approximately $36,000. Finally, Aventura Private Wealth LLC bought a new position in AppLovin in the fourth quarter valued at approximately $38,000. 41.85% of the stock is owned by institutional investors.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Trading Up 3.8%

Shares of NASDAQ:APP opened at $496.77 on Friday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49. The company’s fifty day simple moving average is $482.88 and its 200 day simple moving average is $520.84. The firm has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.81 and a beta of 2.45.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% on a year-over-year basis. As a group, research analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 9,052 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the sale, the chief financial officer directly owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 8,112 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $483.67, for a total transaction of $3,923,531.04. Following the sale, the chief technology officer directly owned 18,805 shares in the company, valued at $9,095,414.35. This trade represents a 30.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 389,924 shares of company stock worth $187,404,946. 13.66% of the stock is owned by insiders.

Analyst Ratings Changes

APP has been the topic of a number of recent research reports. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday. Benchmark reaffirmed a “buy” rating on shares of AppLovin in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. BTIG Research reissued a “buy” rating and set a $640.00 price target on shares of AppLovin in a research report on Thursday, May 7th. Finally, UBS Group reduced their price target on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $669.62.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.