Short Interest in AppLovin Co. (NASDAQ:APP) Increases By 19.2%

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

AppLovin Stock Performance

APP opened at $143.81 on Wednesday. The business’s 50 day moving average is $107.75 and its 200-day moving average is $88.84. The stock has a market cap of $47.32 billion, a PE ratio of 85.60, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. 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 has a twelve month low of $34.45 and a twelve month high of $148.48.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, analysts predict that AppLovin will post 3.46 earnings per share for the current year.

Insider Activity at AppLovin

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

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in AppLovin during the third quarter worth approximately $42,000. Quest Partners LLC acquired a new position in AppLovin in the second quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin in the second quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin in the second quarter worth approximately $37,000. Finally, Summit Securities Group LLC acquired a new position in AppLovin in the second quarter worth approximately $42,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Benchmark lifted their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, BTIG Research raised their target price 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, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $110.01.

About AppLovin

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.