AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) saw a large growth in short interest during the month of 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. Based on an average daily volume of 4,110,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 8.8% of the company’s stock are short sold.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated 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 approximately $900,711.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

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

AppLovin Trading Down 0.3 %

AppLovin stock traded down $0.38 during midday trading on Friday, reaching $127.75. 2,327,078 shares of the stock traded hands, compared to its average volume of 4,224,441. The company has a 50-day simple moving average of $92.41 and a two-hundred day simple moving average of $82.72. AppLovin has a 12-month low of $34.45 and a 12-month high of $133.05. The firm has a market cap of $42.70 billion, a PE ratio of 76.04, a price-to-earnings-growth 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 (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Research analysts expect that AppLovin will post 3.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APP. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wedbush lowered their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group raised their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. BTIG Research lifted their target price on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.44.

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.