Callan Family Office LLC Acquires 2,039 Shares of AppLovin Corporation $APP

Callan Family Office LLC boosted its stake in AppLovin Corporation (NASDAQ:APP) by 23.9% in the third quarter, HoldingsChannel.com reports. The firm owned 10,560 shares of the company’s stock after buying an additional 2,039 shares during the period. Callan Family Office LLC’s holdings in AppLovin were worth $7,588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its holdings in AppLovin by 31.5% during the second quarter. Concurrent Investment Advisors LLC now owns 4,646 shares of the company’s stock worth $1,627,000 after buying an additional 1,114 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in shares of AppLovin during the third quarter valued at approximately $2,514,000. Mediolanum International Funds Ltd lifted its holdings in AppLovin by 73.5% during the third quarter. Mediolanum International Funds Ltd now owns 76,736 shares of the company’s stock worth $54,664,000 after acquiring an additional 32,510 shares during the period. Thames Capital Management LLC boosted its position in AppLovin by 114.8% in the third quarter. Thames Capital Management LLC now owns 16,702 shares of the company’s stock worth $12,001,000 after purchasing an additional 8,925 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in AppLovin by 14.8% in the third quarter. CIBC Asset Management Inc now owns 117,126 shares of the company’s stock worth $84,160,000 after purchasing an additional 15,074 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other 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 transaction, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. This represents a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 340,336 shares of company stock valued at $200,062,623 in the last three months. Company insiders own 13.66% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $483.00 on Tuesday. The stock has a fifty day moving average of $633.80 and a 200-day moving average of $569.61. The stock has a market cap of $163.23 billion, a PE ratio of 58.62, a price-to-earnings-growth ratio of 1.56 and a beta of 2.49. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. Equities research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APP. Evercore ISI reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Citigroup lowered their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their target price on shares of AppLovin from $721.00 to $735.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Piper Sandler restated an “overweight” rating on shares of AppLovin in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $706.45.

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.