Short Interest in AppLovin Co. (NASDAQ:APP) Rises By 11.4%

AppLovin Co. (NASDAQ:APP - Get Free Report) was the recipient of a significant 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. Based on an average daily trading volume, of 4,340,000 shares, the short-interest ratio is presently 5.7 days. Currently, 15.3% of the company's stock are sold short.

Wall Street Analyst Weigh In

APP has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $59.00 to $73.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Wedbush lifted their price objective on shares of AppLovin from $67.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday. TheStreet upgraded shares of AppLovin from a "d+" rating to a "c-" rating in a research note on Friday, March 8th. HSBC assumed coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a "buy" rating and a $53.20 target price for the company. Finally, Oppenheimer lifted their target price on shares of AppLovin from $70.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.36.

AppLovin Trading Down 3.4 %

Shares of AppLovin stock traded down $2.67 during trading on Friday, reaching $75.57. The company's stock had a trading volume of 2,563,815 shares, compared to its average volume of 4,067,792. AppLovin has a 52-week low of $15.41 and a 52-week high of $79.55. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 1.52 and a beta of 1.90. The firm's 50-day moving average is $62.89 and its two-hundred day moving average is $47.99. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company had revenue of $953.26 million during the quarter, compared to analysts' expectations of $928.66 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm's revenue was up 35.7% on a year-over-year basis. On average, sell-side analysts anticipate that AppLovin will post 2.47 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company's stock, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Victoria Valenzuela sold 2,890 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company's stock, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,215 shares of company stock valued at $4,416,815. Corporate insiders own 12.43% of the company's stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently added to or reduced their stakes in APP. FinTrust Capital Advisors LLC purchased a new stake in AppLovin during the 4th quarter valued at $32,000. BluePath Capital Management LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth about $33,000. Tower Research Capital LLC TRC lifted its position in shares of AppLovin by 86.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 927 shares of the company's stock worth $37,000 after purchasing an additional 429 shares during the period. Castleview Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth about $38,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of AppLovin in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors 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.