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Robertson Stephens cut its stake in AppLovin, but analysts remain bullish as the company beat earnings estimates.
Robertson Stephens Wealth Management reduced its stake in AppLovin by 13.3%, while other firms increased holdings or bought new positions.
Analysts are bullish, with Citigroup raising its target to $460 and a "buy" rating.
AppLovin reported $1.25 EPS, beating estimates by $0.33, and insiders have sold shares worth $284.77 million recently.
Institutional investors own 41.85% of the stock.
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Robertson Stephens redujo su participación en AppLovin, pero los analistas siguen siendo alcistas a medida que la compañía supera las estimaciones de ingresos.