AppLovin Co. (NASDAQ:APP) Short Interest Update

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

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup boosted their price target on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Macquarie reiterated an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Price Performance

APP opened at $128.00 on Monday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 52-week low of $34.45 and a 52-week high of $133.05. The company has a 50 day moving average of $92.41 and a two-hundred day moving average of $82.86. The company has a market cap of $42.11 billion, a P/E ratio of 76.04, a P/E/G ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, analysts expect that AppLovin will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 728,933 shares of company stock valued at $61,807,117. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter worth $32,000. Quest Partners LLC acquired a new position in shares of AppLovin during the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of AppLovin during the second quarter worth $34,000. Covestor Ltd lifted its position in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of AppLovin during the second quarter worth $37,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.