Callan Family Office LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Callan Family Office LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,705 shares of the company’s stock, valued at approximately $552,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after purchasing an additional 613 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter valued at $25,000. CWA Asset Management Group LLC purchased a new stake in shares of AppLovin in the third quarter valued at about $1,730,000. Verdence Capital Advisors LLC boosted its stake in shares of AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company’s stock worth $1,439,000 after buying an additional 6,206 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after buying an additional 5,480 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 406,047 shares of company stock worth $140,390,817. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Arete Research raised shares of AppLovin to a “strong sell” rating in a research note on Wednesday, March 5th. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Benchmark boosted their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $452.29.

AppLovin Stock Up 4.2 %

Shares of NASDAQ:APP opened at $270.48 on Monday. AppLovin Co. has a 1 year low of $59.30 and a 1 year high of $525.15. The stock has a 50-day simple moving average of $363.84 and a 200-day simple moving average of $262.97. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $90.77 billion, a P/E ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

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.