Short Interest in AppLovin Co. (NASDAQ:APP) Increases By 6.2%

AppLovin Co. (NASDAQ:APP) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 21,880,000 shares, an increase of 6.2% from the September 30th total of 20,600,000 shares. Approximately 11.1% of the company’s shares are short sold. Based on an average trading volume of 4,270,000 shares, the short-interest ratio is presently 5.1 days.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently made changes to their positions in the company. HM Payson & Co. raised its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC raised its holdings in shares of AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. American Trust increased its stake in AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after buying an additional 150 shares during the period. Highland Capital Management LLC increased its stake in AppLovin by 0.5% in the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after buying an additional 153 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in AppLovin by 1.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 1.3 %

APP stock opened at $169.39 on Friday. AppLovin has a 12 month low of $35.79 and a 12 month high of $174.46. The firm has a 50 day simple moving average of $126.27 and a 200 day simple moving average of $95.70. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $56.62 billion, a PE ratio of 72.08, a P/E/G ratio of 2.47 and a beta of 1.92.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 44.0% compared to the same quarter last year. Equities research analysts forecast that AppLovin will post 3.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APP. Loop Capital began coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer lifted their price objective on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.78.

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.