Calamos Wealth Management LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Calamos Wealth Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,003 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in APP. Townsquare Capital LLC raised its stake in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at approximately $224,000. State Street Corp increased its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. raised its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management raised its stake in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after acquiring an additional 81,331 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 4.1 %

AppLovin stock opened at $380.26 on Wednesday. The firm’s fifty day moving average is $343.50 and its 200 day moving average is $213.07. AppLovin Co. has a 12-month low of $44.01 and a 12-month high of $417.64. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $127.61 billion, a PE ratio of 115.23, a PEG ratio of 3.00 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Transactions at AppLovin

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

Analyst Ratings Changes

A number of brokerages have issued reports on APP. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup lifted their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.29.

About AppLovin

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.