Bryce Point Capital LLC Buys New Shares in AppLovin Co. (NASDAQ:APP)

Bryce Point Capital LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,729 shares of the company’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. SVB Wealth LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. boosted its holdings in 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 purchasing an additional 4,010,520 shares during the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter worth about $828,138,000. Arrowstreet Capital Limited Partnership raised its stake in shares of AppLovin by 457.2% during 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 last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of AppLovin by 193.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock valued at $882,469,000 after buying an additional 1,797,027 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred 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 sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $290.39 on Thursday. The stock 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 Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm has a 50-day simple moving average of $347.77 and a 200-day simple moving average of $286.73. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on APP. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup boosted their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Macquarie upped their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target 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.