AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 16,670,000 shares, a decline of 11.3% from the October 31st total of 18,790,000 shares. Based on an average daily trading volume, of 5,430,000 shares, the short-interest ratio is currently 3.1 days. Currently, 8.1% of the company’s stock are sold short.

AppLovin Stock Down 0.2 %

Shares of NASDAQ APP opened at $336.17 on Monday. The business has a 50-day moving average of $201.91 and a 200-day moving average of $126.00. The firm has a market capitalization of $112.82 billion, a price-to-earnings ratio of 102.05, a PEG ratio of 4.15 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12 month low of $35.79 and a 12 month high of $344.77.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. Sell-side analysts expect that AppLovin will post 4.06 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares in the company, valued at $952,673.78. The trade was a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 884,395 shares of company stock valued at $243,101,629 over the last 90 days. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of AppLovin during the second quarter worth approximately $290,655,000. 1832 Asset Management L.P. lifted its holdings in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

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.