Calamos Advisors LLC Trims Stake in AppLovin Co. (NASDAQ:APP)

Calamos Advisors LLC reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,639 shares of the company’s stock after selling 3,092 shares during the quarter. Calamos Advisors LLC’s holdings in AppLovin were worth $1,218,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. American Trust raised its position in AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares in the last quarter. Highland Capital Management LLC increased its position in shares of AppLovin by 0.5% in the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after buying an additional 153 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after buying an additional 154 shares in the last quarter. DeDora Capital Inc. increased its position in shares of AppLovin by 1.8% in the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after buying an additional 166 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Victoria Valenzuela sold 11,276 shares of AppLovin stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total transaction of $853,705.96. Following the completion of the transaction, the insider now directly owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $83.89, for a total value of $586,391.10. Following the completion of the transaction, the director now directly owns 34,178 shares of the company’s stock, valued at $2,867,192.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 11,276 shares of AppLovin stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.71, for a total value of $853,705.96. Following the completion of the sale, the insider now directly owns 437,214 shares of the company’s stock, valued at approximately $33,101,471.94. The disclosure for this sale can be found here. Insiders sold 637,071 shares of company stock valued at $53,971,086 in the last three months. 14.69% of the stock is currently owned by company insiders.

AppLovin Price Performance

APP opened at $90.35 on Monday. The stock’s 50-day moving average price is $81.06 and its 200 day moving average price is $74.39. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $92.50. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. As a group, sell-side analysts expect that AppLovin Co. will post 2.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APP. The Goldman Sachs Group boosted their price objective on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Benchmark boosted their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday. Jefferies Financial Group boosted their price target on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus boosted their price target on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, BTIG Research boosted their price target on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.86.

AppLovin Profile

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.