Burns Matteson Capital Management LLC Sells 396 Shares of AppLovin Co. (NASDAQ:APP)

Burns Matteson Capital Management LLC trimmed its stake in shares of AppLovin Co. (NASDAQ:APP) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,535 shares of the company’s stock after selling 396 shares during the period. 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin in the fourth quarter valued at about $25,000. DT Investment Partners LLC bought a new position in AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter worth about $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $29,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $375.72 on Monday. 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’s fifty day moving average is $346.12 and its 200 day moving average is $219.26. The firm has a market capitalization of $126.09 billion, a PE ratio of 113.85, a PEG 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APP shares. Jefferies Financial Group raised their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Loop Capital boosted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Benchmark initiated coverage on AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price target for the company. Finally, Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $366.29.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 99,000 shares of the 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 transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last quarter. 14.69% of the stock is owned by company insiders.

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.