AppLovin Co. (NASDAQ:APP) Sees Significant Growth in Short Interest

AppLovin Co. (NASDAQ:APPGet Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 21,880,000 shares, a growth of 6.2% from the September 30th total of 20,600,000 shares. Based on an average trading volume of 4,270,000 shares, the days-to-cover ratio is presently 5.1 days. Currently, 11.1% of the company’s shares are short sold.

AppLovin Stock Performance

Shares of APP stock opened at $171.65 on Thursday. AppLovin has a one year low of $35.79 and a one year high of $174.46. The company has a market cap of $57.37 billion, a P/E ratio of 73.04, a P/E/G ratio of 2.07 and a beta of 1.92. The firm has a 50-day moving average of $124.66 and a 200-day moving average of $95.19. 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:APPGet Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities research analysts forecast that AppLovin will post 3.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APP shares. Citigroup lifted their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group lifted their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer increased their price objective on shares of AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Macquarie reiterated an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.78.

Read Our Latest Report on APP

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last ninety days. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APP. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter worth about $29,000. HM Payson & Co. raised its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. ORG Wealth Partners LLC purchased a new position in AppLovin in the third quarter valued at about $42,000. Finally, Quest Partners LLC bought a new position in shares of AppLovin during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

About AppLovin

(Get Free Report)

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.

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