Calamos Advisors LLC Has $20.21 Million Stock Holdings in AppLovin Corporation $APP

Calamos Advisors LLC raised its position in AppLovin Corporation (NASDAQ:APP) by 138.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 28,128 shares of the company’s stock after buying an additional 16,335 shares during the period. Calamos Advisors LLC’s holdings in AppLovin were worth $20,211,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in AppLovin in the fourth quarter valued at about $294,000. Bison Wealth LLC acquired a new position in AppLovin during the 4th quarter valued at about $239,000. Quarry LP lifted its position in AppLovin by 33.9% during the 1st quarter. Quarry LP now owns 371 shares of the company’s stock valued at $98,000 after purchasing an additional 94 shares during the period. Graham Capital Management L.P. boosted its stake in shares of AppLovin by 5.3% in the 1st quarter. Graham Capital Management L.P. now owns 8,228 shares of the company’s stock valued at $2,180,000 after purchasing an additional 417 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its position in shares of AppLovin by 6.1% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 2,187 shares of the company’s stock worth $580,000 after buying an additional 125 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 4,069 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the transaction, the chief executive officer directly owned 2,998,948 shares in the company, valued at approximately $1,491,976,630. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the sale, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 340,336 shares of company stock worth $200,062,623. Insiders own 13.66% of the company’s stock.

AppLovin Trading Down 0.8%

Shares of APP stock opened at $693.43 on Wednesday. The stock has a market cap of $234.35 billion, a P/E ratio of 84.15, a price-to-earnings-growth ratio of 3.75 and a beta of 2.51. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $635.40 and a 200 day simple moving average of $528.84.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.34 by $0.11. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on APP shares. Morgan Stanley increased their price objective on shares of AppLovin from $480.00 to $750.00 and gave the company an “overweight” rating in a report on Monday, September 29th. The Goldman Sachs Group increased their price target on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price objective on AppLovin from $633.00 to $721.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their price objective on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, BTIG Research restated a “buy” rating and set a $771.00 target price on shares of AppLovin in a report on Wednesday, December 17th. Nineteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $695.90.

AppLovin Company Profile

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.