AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 17,280,000 shares, a growth of 13.3% from the August 31st total of 15,250,000 shares. Currently, 8.8% of the company’s stock are sold short. Based on an average daily volume of 4,110,000 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analyst Weigh In

APP has been the topic of several analyst reports. Macquarie reiterated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Citigroup increased their price target on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Jefferies Financial Group increased their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Trading Up 2.2 %

Shares of AppLovin stock opened at $130.55 on Tuesday. The company’s fifty day simple moving average is $93.36 and its 200-day simple moving average is $83.34. The company has a market cap of $42.95 billion, a price-to-earnings ratio of 77.71, a PEG ratio of 1.82 and a beta of 1.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 1 year low of $34.45 and a 1 year high of $133.05.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue was up 44.0% compared to the same quarter last year. As a group, sell-side analysts expect that AppLovin will post 3.46 EPS for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The disclosure for this sale can be found here. Insiders sold 728,933 shares of company stock valued at $61,807,117 over the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of APP. American Trust lifted its holdings in shares of AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the period. Highland Capital Management LLC lifted its holdings in AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after purchasing an additional 153 shares during the last quarter. GAMMA Investing LLC boosted its position in AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after buying an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after buying an additional 205 shares in the last quarter. Finally, Signaturefd LLC grew its stake in AppLovin by 9.5% during the second quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock worth $207,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.