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

Calamos Advisors LLC reduced its position in AppLovin Co. (NASDAQ:APP) by 43.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,663 shares of the company’s stock after selling 7,454 shares during the quarter. Calamos Advisors LLC’s holdings in AppLovin were worth $3,129,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Jennison Associates LLC purchased a new stake in AppLovin in the fourth quarter valued at approximately $414,462,000. WCM Investment Management LLC lifted its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC grew its stake in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after buying an additional 560,560 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 4.1 %

Shares of NASDAQ:APP opened at $380.26 on Wednesday. AppLovin Co. has a 1 year low of $44.01 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average is $343.50 and its 200 day moving average is $213.07. The company has a market cap of $127.61 billion, a PE ratio of 115.23, a P/E/G 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 EPS for the quarter, beating 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Sell-side analysts anticipate that AppLovin Co. will post 4.09 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Macquarie lifted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital lifted their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Bank of America boosted their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group increased their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.29.

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.