AppLovin Co. (NASDAQ:APP) Short Interest Update

AppLovin Co. (NASDAQ:APP) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 12,490,000 shares, a decline of 30.6% from the December 31st total of 18,000,000 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 5,720,000 shares, the days-to-cover ratio is presently 2.2 days.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $4.08 during mid-day trading on Friday, hitting $369.59. The company had a trading volume of 3,352,935 shares, compared to its average volume of 3,733,983. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $124.03 billion, a price-to-earnings ratio of 112.00, a P/E/G ratio of 2.97 and a beta of 2.29. AppLovin has a 1 year low of $40.71 and a 1 year high of $417.64. The stock’s 50-day moving average price is $341.58 and its 200-day moving average price is $207.22.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on APP. Stifel Nicolaus increased their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer restated an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Wells Fargo & Company upped their target price on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, UBS Group lifted their price target on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its position in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. National Bank of Canada FI increased its holdings in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Versant Capital Management Inc boosted its stake in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.