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

AppLovin Co. (NASDAQ:APP) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 24,650,000 shares, an increase of 11.4% from the March 15th total of 22,120,000 shares. Approximately 15.3% of the company’s shares are sold short. Based on an average daily volume of 4,340,000 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research note on Monday. They issued a “neutral” rating and a $80.00 price target for the company. HSBC initiated coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a “buy” rating and a $53.20 price target for the company. Wedbush lifted their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, BTIG Research lifted their price target on shares of AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.75.

AppLovin Price Performance

NASDAQ:APP traded down $4.14 during trading hours on Monday, hitting $71.43. 4,104,700 shares of the stock traded hands, compared to its average volume of 4,183,284. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a 1 year low of $15.41 and a 1 year high of $79.55. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 71.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90. The stock has a 50 day moving average price of $63.41 and a 200 day moving average price of $48.21.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. Sell-side analysts forecast that AppLovin will post 2.47 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated 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 completion of the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $3,750,500.00. Following the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,215 shares of company stock valued at $4,416,815. Company insiders own 12.43% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several large investors have recently added to or reduced their stakes in APP. FinTrust Capital Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter worth $32,000. BluePath Capital Management LLC purchased a new position in shares of AppLovin in the third quarter worth $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of AppLovin by 86.1% in the third quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock worth $37,000 after buying an additional 429 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of AppLovin in the third quarter worth $38,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of AppLovin in the first quarter worth $38,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.