Calamos Wealth Management LLC Invests $3.08 Million in AppLovin Corporation $APP

Key Points

• Calamos Wealth Management LLC invested approximately $3.08 million in AppLovin Corporation, acquiring 8,784 shares of stock in the second quarter.
• Insider sales have occurred, with notable transactions including Vasily Shikin selling 30,000 shares for over $13 million and Victoria Valenzuela selling 35,000 shares valued at almost $17.6 million.
• AppLovin has received positive analyst ratings, with target prices increased by firms like UBS Group and Wells Fargo, signaling a strong market outlook for the stock.

Calamos Wealth Management LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,784 shares of the company's stock, valued at approximately $3,075,000.

Other large investors have also modified their holdings of the company. Hilltop National Bank bought a new stake in shares of AppLovin during the 2nd quarter worth $26,000. Atala Financial Inc bought a new stake in shares of AppLovin during the 1st quarter worth $26,000. Hoey Investments Inc. bought a new stake in shares of AppLovin during the 2nd quarter worth $35,000. Trust Co. of Vermont bought a new stake in shares of AppLovin during the 2nd quarter worth $35,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of AppLovin in the first quarter worth $29,000. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 in the last three months. 13.66% of the stock is currently owned by insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $599.31 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 1 year low of $141.35 and a 1 year high of $745.61. The business has a fifty day simple moving average of $556.25 and a 200 day simple moving average of $412.29. The firm has a market cap of $202.72 billion, a price-to-earnings ratio of 85.13, a P/E/G ratio of 3.25 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.89 earnings per share. AppLovin's quarterly revenue was up 77.1% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the subject of several recent analyst reports. UBS Group raised their target price on AppLovin from $540.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppLovin in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on AppLovin from $491.00 to $633.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Bank of America raised their target price on AppLovin from $580.00 to $860.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $600.59.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.