AppLovin Co. (NASDAQ:APP) Short Interest Up 11.4% in March

AppLovin Co. (NASDAQ:APP) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 24,650,000 shares, a growth of 11.4% from the March 15th total of 22,120,000 shares. Currently, 15.3% of the shares of the stock are short sold. Based on an average trading volume of 4,340,000 shares, the days-to-cover ratio is currently 5.7 days.

Wall Street Analyst Weigh In

APP has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. BTIG Research lifted their price target on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Oppenheimer lifted their price target on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Wedbush lifted their price target on shares of AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.75.

AppLovin Stock Performance

Shares of AppLovin stock traded up $0.80 during trading on Tuesday, hitting $72.23. 1,016,862 shares of the stock were exchanged, compared to its average volume of 4,139,180. The stock’s fifty day moving average is $63.41 and its 200 day moving average is $48.21. The stock has a market cap of $24.70 billion, a PE ratio of 71.43, a P/E/G ratio of 1.53 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin has a 12 month low of $15.41 and a 12 month high of $79.55.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million for 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 for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. As a group, sell-side analysts anticipate that AppLovin will post 2.47 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, 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 completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’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 transaction of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. In the last three months, insiders sold 61,215 shares of company stock worth $4,416,815. 12.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently made changes to their positions in APP. Atlas Capital Advisors LLC bought a new stake in shares of AppLovin in the first quarter valued at approximately $38,000. FinTrust Capital Advisors LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $32,000. BluePath Capital Management LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its position 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 valued at $37,000 after acquiring an additional 429 shares during the period. Finally, Castleview Partners LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $38,000. Institutional investors and hedge funds 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.