AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 21,880,000 shares, a growth of 6.2% from the September 30th total of 20,600,000 shares. Approximately 11.1% of the shares of the company are short sold. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent analyst reports. Macquarie reissued an “outperform” rating and issued a $150.00 price target (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Oppenheimer increased their target price on shares of AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company initiated coverage on AppLovin in a research note on Monday. They set an “overweight” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.78.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently bought and sold shares of APP. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin in the 3rd quarter worth $29,000. Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter valued at about $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppLovin during the second quarter valued at about $34,000. Finally, Covestor Ltd grew its stake in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of AppLovin stock opened at $171.65 on Thursday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin has a 52-week low of $35.79 and a 52-week high of $174.46. The company has a fifty day moving average of $124.66 and a 200-day moving average of $95.19. The stock has a market capitalization of $57.37 billion, a price-to-earnings ratio of 73.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities research analysts expect that AppLovin will post 3.46 EPS for the current year.

About AppLovin

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.