Calamos Advisors LLC Sells 7,454 Shares of AppLovin Co. (NASDAQ:APP)

Calamos Advisors LLC cut its holdings in AppLovin Co. (NASDAQ:APP) by 43.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,663 shares of the company’s stock after selling 7,454 shares during the period. Calamos Advisors LLC’s holdings in AppLovin were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in AppLovin by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock worth $4,110,000 after purchasing an additional 9,508 shares during the period. Truist Financial Corp grew its stake in shares of AppLovin by 510.9% in the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after buying an additional 23,163 shares during the period. Cetera Investment Advisers grew its stake in shares of AppLovin by 115.3% in the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after buying an additional 16,397 shares during the period. Sanctuary Advisors LLC bought a new stake in AppLovin in the 2nd quarter valued at about $241,000. Finally, SG Americas Securities LLC raised its stake in AppLovin by 88.1% during the 3rd quarter. SG Americas Securities LLC now owns 15,554 shares of the company’s stock worth $2,031,000 after buying an additional 7,286 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by insiders.

AppLovin Price Performance

APP opened at $380.26 on Wednesday. AppLovin Co. has a fifty-two week low of $44.01 and a fifty-two week high of $417.64. The firm has a 50-day moving average of $343.50 and a 200 day moving average of $213.07. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $127.61 billion, a P/E ratio of 115.23, a PEG ratio of 3.00 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. On average, research analysts expect that AppLovin Co. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

APP has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Macquarie boosted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Bank of America raised their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $366.29.

AppLovin Company 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.