AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 15,150,000 shares, a decrease of 7.7% from the May 31st total of 16,420,000 shares. Approximately 8.9% of the shares of the company are sold short. Based on an average daily volume of 4,250,000 shares, the days-to-cover ratio is currently 3.6 days.

AppLovin Trading Down 1.3 %

Shares of APP stock traded down $1.14 during mid-day trading on Tuesday, hitting $83.68. The company’s stock had a trading volume of 2,386,623 shares, compared to its average volume of 4,306,763. The company’s fifty day simple moving average is $79.48 and its 200-day simple moving average is $63.60. AppLovin has a 52 week low of $25.24 and a 52 week high of $88.50. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market cap of $27.53 billion, a PE ratio of 50.49, a P/E/G ratio of 1.41 and a beta of 1.86.

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

Insider Activity

In other news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,780 shares of the company’s stock, valued at $151,246.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Craig Scott Billings sold 5,620 shares of the stock in a transaction that occurred 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 sale, the director now owns 1,780 shares of the company’s stock, valued at $151,246.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. GAMMA Investing LLC increased its holdings in AppLovin by 19.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,539 shares of the company’s stock worth $128,000 after purchasing an additional 254 shares in the last quarter. American Trust increased its holdings in AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after purchasing an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in AppLovin by 4,123.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 128,222 shares of the company’s stock worth $8,726,000 after purchasing an additional 125,186 shares in the last quarter. Cetera Advisors LLC bought a new stake in AppLovin during the 1st quarter worth approximately $675,000. Finally, Invst LLC bought a new stake in AppLovin during the 1st quarter worth approximately $226,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APP has been the subject of several recent analyst reports. Wedbush upped their target price on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Citigroup upped their target price on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Morgan Stanley increased their price target on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group increased their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.72.

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.