Bryce Point Capital LLC Purchases Shares of 1,729 AppLovin Co. (NASDAQ:APP)

Bryce Point Capital LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The fund purchased 1,729 shares of the company’s stock, valued at approximately $560,000.

Other hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in AppLovin in the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. grew its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new stake in shares of AppLovin in the fourth quarter valued at $828,138,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after buying an additional 2,373,885 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in AppLovin by 193.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock worth $882,469,000 after acquiring an additional 1,797,027 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 2.7 %

NASDAQ APP opened at $290.39 on Thursday. The firm’s fifty day moving average price is $347.77 and its 200 day moving average price is $286.73. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $98.72 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued 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 return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

APP has been the topic of a number of recent research reports. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Bank of America increased their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group boosted their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $435.47.

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.