Short Interest in AppLovin Co. (NASDAQ:APP) Declines By 37.9%

AppLovin Co. (NASDAQ:APP) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 16,420,000 shares, a drop of 37.9% from the May 15th total of 26,450,000 shares. Based on an average daily volume of 4,380,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 9.7% of the shares of the company are short sold.

AppLovin Stock Up 2.5 %

APP stock opened at $77.52 on Friday. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 46.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. The company has a 50-day moving average of $77.80 and a two-hundred day moving average of $59.95. AppLovin has a 52-week low of $22.11 and a 52-week high of $88.50. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 5,620 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the transaction, the director now owns 1,780 shares in the company, valued at approximately $151,246.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the completion of the sale, the director now owns 1,780 shares in the company, valued at $151,246.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,726,239 shares of company stock worth $1,477,034,958. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Institutional investors have recently modified their holdings of the company. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at about $32,000. Covestor Ltd lifted its stake in 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 during the period. Atlas Capital Advisors LLC acquired a new stake in AppLovin during the first quarter valued at approximately $38,000. ORG Partners LLC grew its stake in shares of 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 purchasing an additional 424 shares during the period. Finally, Quarry LP acquired a new position in shares of AppLovin in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on APP shares. Jefferies Financial Group raised their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Stifel Nicolaus lifted their price target on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, BTIG Research increased their price objective on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

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.