Calamos Advisors LLC Buys 16,335 Shares of AppLovin Corporation $APP

Calamos Advisors LLC boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 138.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 28,128 shares of the company’s stock after buying an additional 16,335 shares during the quarter. Calamos Advisors LLC’s holdings in AppLovin were worth $20,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. Hilltop National Bank acquired a new position in shares of AppLovin in the second quarter worth approximately $26,000. LFA Lugano Financial Advisors SA bought a new position in AppLovin during the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of AppLovin in the 2nd quarter worth approximately $33,000. Heartwood Wealth Advisors LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at $33,000. Finally, Hoey Investments Inc. acquired a new stake in shares of AppLovin during the second quarter worth $35,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Benchmark boosted their target price on shares of AppLovin from $700.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, December 11th. The Goldman Sachs Group upped their target price on AppLovin from $630.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Citigroup lowered their target price on AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft set a $705.00 price target on AppLovin and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $775.00 price objective on shares of AppLovin in a research report on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $695.90.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the completion of the transaction, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 340,336 shares of company stock valued at $200,062,623 in the last ninety days. Insiders own 13.66% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $693.43 on Wednesday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a fifty day simple moving average of $635.40 and a two-hundred day simple moving average of $528.84. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The company has a market cap of $234.35 billion, a price-to-earnings ratio of 84.15, a price-to-earnings-growth ratio of 3.75 and a beta of 2.51.

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

About AppLovin

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.