AppLovin Co. (NASDAQ:APP) Sees Significant Decline in Short Interest

AppLovin Co. (NASDAQ:APPGet Free Report) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 18,790,000 shares, a decrease of 14.1% from the October 15th total of 21,880,000 shares. Based on an average daily trading volume, of 4,630,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 9.4% of the company’s shares are short sold.

AppLovin Stock Performance

APP stock opened at $291.09 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $97.30 billion, a PE ratio of 88.21, a P/E/G ratio of 3.49 and a beta of 1.86. The business has a 50 day moving average of $159.14 and a 200-day moving average of $108.84. AppLovin has a 12-month low of $35.79 and a 12-month high of $302.55.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, sell-side analysts expect that AppLovin will post 4.06 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on APP. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group boosted their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.31.

Check Out Our Latest Stock Report on APP

Insider Transactions at AppLovin

In other 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 completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. The trade was a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock worth $32,012,275 over the last three months. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter valued at $29,000. Finally, Quest Partners LLC purchased a new stake in AppLovin in the second quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

(Get Free Report)

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.

Further Reading

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