AppLovin Co. (NASDAQ:APP) Short Interest Down 11.4% in April

AppLovin Co. (NASDAQ:APP) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 21,850,000 shares, a decrease of 11.4% from the March 31st total of 24,650,000 shares. Currently, 13.5% of the shares of the company are short sold. Based on an average daily trading volume, of 4,370,000 shares, the short-interest ratio is currently 5.0 days.

Insider Activity

In related news, CFO Matthew Stumpf sold 2,775 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the company’s 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 approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,215 shares of company stock valued at $4,416,815. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new stake in AppLovin in the 1st quarter worth about $491,000. WCM Investment Management LLC acquired a new stake in AppLovin in the 1st quarter worth about $497,488,000. TRUE Private Wealth Advisors acquired a new stake in AppLovin in the 1st quarter worth about $208,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of AppLovin in the 1st quarter valued at approximately $3,025,000. Finally, Dakota Wealth Management raised its position in shares of AppLovin by 504.4% in the 1st quarter. Dakota Wealth Management now owns 58,587 shares of the company’s stock valued at $4,055,000 after buying an additional 48,894 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $4.61 during mid-day trading on Friday, reaching $73.82. 5,381,253 shares of the company were exchanged, compared to its average volume of 3,326,516. The company’s 50-day simple moving average is $67.13 and its 200-day simple moving average is $50.03. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $25.25 billion, a P/E ratio of 73.82, a P/E/G ratio of 1.48 and a beta of 1.90. AppLovin has a twelve month low of $15.70 and a twelve month high of $79.55.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APP. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Wedbush upped their price objective on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Oppenheimer increased their price target on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group increased their price target on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $59.31.

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.