Burns Matteson Capital Management LLC Purchases New Shares in AppLovin Co. (NASDAQ:APP)

Burns Matteson Capital Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,931 shares of the company’s stock, valued at approximately $513,000.

A number of other institutional investors have also made changes to their positions in the business. Ritholtz Wealth Management raised its holdings in shares of AppLovin by 106.3% in the third quarter. Ritholtz Wealth Management now owns 15,420 shares of the company’s stock valued at $2,013,000 after buying an additional 7,946 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in AppLovin by 2,100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,600 shares of the company’s stock worth $861,000 after purchasing an additional 6,300 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in AppLovin during the 3rd quarter worth about $5,111,000. UMB Bank n.a. raised its holdings in AppLovin by 61.3% during the 3rd quarter. UMB Bank n.a. now owns 903 shares of the company’s stock worth $118,000 after purchasing an additional 343 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in AppLovin by 156.0% during the 3rd quarter. Wedmont Private Capital now owns 6,045 shares of the company’s stock worth $846,000 after purchasing an additional 3,684 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Macquarie reissued an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Jefferies Financial Group boosted their price objective on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Benchmark boosted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Citigroup boosted their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Stock Up 1.5 %

Shares of APP traded up $2.16 on Friday, hitting $147.00. The company’s stock had a trading volume of 4,037,692 shares, compared to its average volume of 4,185,284. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm’s fifty day moving average price is $104.70 and its 200-day moving average price is $87.53. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $147.60. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 62.55, a P/E/G ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.22 EPS. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. On average, equities research analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

AppLovin Company 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.