Callan Family Office LLC Has $7.59 Million Holdings in AppLovin Corporation $APP

Callan Family Office LLC boosted its holdings in AppLovin Corporation (NASDAQ:APP) by 23.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,560 shares of the company’s stock after purchasing an additional 2,039 shares during the period. Callan Family Office LLC’s holdings in AppLovin were worth $7,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Illumine Investment Management LLC acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $4,124,000. Peak Retirement Planning Inc. grew its holdings in AppLovin by 14.1% during the third quarter. Peak Retirement Planning Inc. now owns 4,441 shares of the company’s stock worth $3,191,000 after purchasing an additional 550 shares during the period. Atlantic Union Bankshares Corp boosted its position in AppLovin by 32.4% during the third quarter. Atlantic Union Bankshares Corp now owns 409 shares of the company’s stock worth $294,000 after purchasing an additional 100 shares during the period. AGF Management Ltd. bought a new position in shares of AppLovin in the third quarter valued at about $116,299,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of AppLovin by 58.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 13,176 shares of the company’s stock worth $8,826,000 after buying an additional 4,862 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the subject of several research reports. Morgan Stanley raised their price objective on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Wells Fargo & Company increased their price target on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Oppenheimer set a $740.00 price target on AppLovin in a research report on Tuesday, October 7th. Finally, Zacks Research raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $706.45.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $497.50, for a total transaction of $2,024,327.50. Following the sale, the chief executive officer directly owned 2,998,948 shares of the company’s stock, valued at approximately $1,491,976,630. This trade represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 340,336 shares of company stock worth $200,062,623. Insiders own 13.66% of the company’s stock.

AppLovin Trading Up 2.1%

APP opened at $483.00 on Tuesday. The company has a market cap of $163.23 billion, a P/E ratio of 58.62, a PEG ratio of 1.56 and a beta of 2.49. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The company’s 50 day moving average is $633.80 and its 200-day moving average is $569.61. AppLovin Corporation has a 1-year low of $200.50 and a 1-year high of $745.61.

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

AppLovin Company Profile

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.