AppLovin Co. (NASDAQ:APP) Short Interest Up 9.0% in July

AppLovin Co. (NASDAQ:APP) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 17,090,000 shares, a growth of 9.0% from the June 30th total of 15,680,000 shares. Currently, 10.1% of the shares of the company are sold short. Based on an average trading volume of 4,150,000 shares, the days-to-cover ratio is presently 4.1 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of AppLovin in a report on Monday. The Goldman Sachs Group raised their price target on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley boosted their price target on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Stifel Nicolaus increased their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Daiwa Capital Markets assumed coverage on AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target for the company. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.72.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares in the company, valued at $693,468,938.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the transaction, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,857,726 shares of company stock worth $1,489,251,374. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently made changes to their positions in the business. iA Global Asset Management Inc. acquired a new position in AppLovin during the 2nd quarter worth $395,000. Signaturefd LLC lifted its holdings in AppLovin by 9.5% during the 2nd quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock worth $207,000 after buying an additional 215 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of AppLovin by 43.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,111 shares of the company’s stock valued at $592,000 after acquiring an additional 2,161 shares during the last quarter. Braun Stacey Associates Inc. raised its position in shares of AppLovin by 1.0% during the 2nd quarter. Braun Stacey Associates Inc. now owns 266,380 shares of the company’s stock valued at $22,168,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of AppLovin by 894.7% during the 2nd quarter. Principal Financial Group Inc. now owns 179,114 shares of the company’s stock valued at $14,906,000 after acquiring an additional 161,107 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Down 1.8 %

NASDAQ APP traded down $1.42 during trading on Tuesday, reaching $75.43. 1,782,453 shares of the company’s stock were exchanged, compared to its average volume of 4,087,307. AppLovin has a 1 year low of $28.99 and a 1 year high of $91.91. The stock has a market cap of $24.82 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.86. 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 50 day moving average price of $81.70 and a two-hundred day moving average price of $69.59.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, equities research analysts anticipate that AppLovin will post 2.96 EPS for the current fiscal year.

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.