AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 21,850,000 shares, a decline of 11.4% from the March 31st total of 24,650,000 shares. Approximately 13.5% of the company’s shares are short sold. Based on an average daily trading volume, of 4,370,000 shares, the days-to-cover ratio is presently 5.0 days.

AppLovin Trading Down 2.3 %

NASDAQ:APP traded down $1.65 on Tuesday, reaching $71.34. 1,852,502 shares of the stock traded hands, compared to its average volume of 4,061,911. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a 1-year low of $15.70 and a 1-year high of $79.55. The company’s 50 day moving average is $67.39 and its 200-day moving average is $50.34. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 72.99, a price-to-earnings-growth ratio of 1.48 and a beta of 1.90.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same period last year, the business posted ($0.21) EPS. Equities research analysts anticipate that AppLovin will post 2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lifted their price target on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group lifted their target price on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Daiwa Capital Markets assumed coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price target for the company. BTIG Research boosted their price target on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Oppenheimer increased their price objective on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.31.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 50,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,215 shares of company stock worth $4,416,815. 12.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its position in shares of AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $98,000 after purchasing an additional 348 shares during the period. AE Wealth Management LLC bought a new stake in AppLovin during the 3rd quarter valued at $479,000. SG Americas Securities LLC acquired a new position in AppLovin during the third quarter worth $1,038,000. Handelsbanken Fonder AB grew its holdings in shares of AppLovin by 25.1% during the third quarter. Handelsbanken Fonder AB now owns 24,400 shares of the company’s stock valued at $975,000 after buying an additional 4,900 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of AppLovin during the third quarter worth about $277,000. 41.85% of the stock is owned by institutional investors.

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.