AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 15,150,000 shares, a decrease of 7.7% from the May 31st total of 16,420,000 shares. Based on an average daily trading volume, of 4,250,000 shares, the short-interest ratio is presently 3.6 days. Currently, 8.9% of the shares of the stock are short sold.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the transaction, the director now owns 11,565 shares in the company, valued at $874,892.25. The disclosure for this sale can be found here. Insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330 in the last quarter. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Large investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC bought a new stake in AppLovin during the 4th quarter valued at about $32,000. Covestor Ltd increased its position 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 acquiring an additional 236 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in AppLovin in the 1st quarter worth approximately $38,000. ORG Partners LLC lifted its position in AppLovin by 212.0% in the 1st quarter. ORG Partners LLC now owns 624 shares of the company’s stock valued at $43,000 after acquiring an additional 424 shares in the last quarter. Finally, Quarry LP purchased a new stake in AppLovin during the 4th quarter valued at $44,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group lifted their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Wedbush raised their price target on shares of AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.72.

AppLovin Price Performance

Shares of APP stock opened at $83.22 on Monday. The business’s fifty day moving average is $79.14 and its 200 day moving average is $63.28. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 1.41 and a beta of 1.88. AppLovin has a twelve month low of $25.11 and a twelve month high of $88.50.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $973.70 million. During the same period last year, the business earned ($0.01) EPS. AppLovin’s quarterly revenue was up 47.9% compared to the same quarter last year. Research analysts expect that AppLovin will post 2.96 EPS for the current fiscal year.

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.