Burns Matteson Capital Management LLC Has $1.15 Million Holdings in AppLovin Co. (NASDAQ:APP)

Burns Matteson Capital Management LLC decreased its stake in shares of AppLovin Co. (NASDAQ:APP) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,535 shares of the company’s stock after selling 396 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in AppLovin were worth $1,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the fourth quarter worth about $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the 3rd quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in AppLovin during the 3rd quarter worth approximately $29,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler started coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. UBS Group boosted their price target on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Citigroup boosted their target price on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Trading Down 1.3 %

NASDAQ APP opened at $375.72 on Monday. The stock has a market cap of $126.09 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64. The stock has a 50 day simple moving average of $346.12 and a two-hundred day simple moving average of $219.26. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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.