Short Interest in AppLovin Co. (NASDAQ:APP) Drops By 15.8%

AppLovin Co. (NASDAQ:APP) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 14,390,000 shares, a decline of 15.8% from the July 15th total of 17,090,000 shares. Currently, 8.5% of the shares of the stock are short sold. Based on an average trading volume of 4,310,000 shares, the short-interest ratio is currently 3.3 days.

Insider Activity

In related news, CFO Matthew Stumpf sold 60,615 shares of the business’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 value of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other 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 sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now owns 448,490 shares in the company, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold 409,350 shares of company stock worth $34,147,941 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. FinTrust Capital Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $32,000. Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the second quarter worth $34,000. Covestor Ltd grew its holdings in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of AppLovin in the 2nd quarter valued at $37,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 0.9 %

NASDAQ:APP traded up $0.77 during trading hours on Friday, reaching $86.35. The company’s stock had a trading volume of 2,782,248 shares, compared to its average volume of 4,147,177. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $28.41 billion, a P/E ratio of 51.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86. The stock has a 50 day moving average price of $79.95 and a two-hundred day moving average price of $72.65. AppLovin has a 12 month low of $34.45 and a 12 month high of $91.91.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. Equities analysts predict that AppLovin will post 2.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APP shares. Stifel Nicolaus boosted their target price on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group raised their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. BTIG Research boosted their target price on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Citigroup increased their price target on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $79.94.

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.