AppLovin Co. (NASDAQ:APP) Short Interest Up 6.2% in October

AppLovin Co. (NASDAQ:APP - Get Free Report) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is currently 5.1 days. Approximately 11.1% of the company's shares are sold short.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company's stock, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares of the company's stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 in the last quarter. Corporate insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Institutional investors have recently bought and sold shares of the business. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $29,000. Quest Partners LLC bought a new position in AppLovin in the second quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the second quarter valued at approximately $34,000. Finally, Covestor Ltd lifted its stake in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company's stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Benchmark raised their price target on shares of AppLovin from $48.00 to $66.00 and gave the stock a "sell" rating in a research note on Friday, August 23rd. Oppenheimer boosted their price target on shares of AppLovin from $105.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group downgraded shares of AppLovin from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Loop Capital initiated coverage on AppLovin in a report on Tuesday, October 22nd. They set a "buy" rating and a $181.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on AppLovin from $57.00 to $160.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.72.

AppLovin Stock Performance

APP stock traded up $0.37 during mid-day trading on Wednesday, hitting $172.61. 1,799,781 shares of the company were exchanged, compared to its average volume of 4,139,632. The stock has a market capitalization of $57.69 billion, a PE ratio of 73.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 1-year low of $35.79 and a 1-year high of $174.46. The business has a 50 day simple moving average of $123.04 and a 200-day simple moving average of $94.65.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company's revenue for the quarter was up 44.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. On average, equities analysts forecast that AppLovin will post 3.46 earnings per share for the current year.

About AppLovin

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.