AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 20,600,000 shares, a growth of 19.2% from the September 15th total of 17,280,000 shares. Based on an average daily trading volume, of 4,000,000 shares, the days-to-cover ratio is presently 5.2 days. Approximately 10.5% of the company’s shares are short sold.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the 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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’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 owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Several hedge funds have recently added to or reduced their stakes in APP. Lone Pine Capital LLC increased its holdings in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after purchasing an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. raised its holdings in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of AppLovin during the 2nd quarter valued at $290,655,000. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin during the 1st quarter worth $195,129,000. Finally, 1832 Asset Management L.P. increased its position in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APP. Citigroup lifted their target price on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Benchmark boosted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Oppenheimer restated an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. BTIG Research lifted their price target on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Bank of America increased their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $110.01.

AppLovin Trading Down 1.2 %

APP stock opened at $145.30 on Tuesday. AppLovin has a one year low of $34.45 and a one year high of $148.48. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 86.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a fifty day moving average price of $106.26 and a two-hundred day moving average price of $88.31. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion for 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%. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 EPS. Equities analysts anticipate that AppLovin will post 3.46 EPS for the current 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.