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

AppLovin Co. (NASDAQ:APP - Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 21,850,000 shares, a decline of 11.4% from the March 31st total of 24,650,000 shares. Based on an average daily trading volume, of 4,370,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 13.5% of the company's shares are short sold.

Insider Buying and Selling at AppLovin

In related news, Director Craig Scott Billings sold 5,550 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares of the company's stock, valued at approximately $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. 12.43% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Several institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC bought a new position in AppLovin during the fourth quarter valued at approximately $32,000. BluePath Capital Management LLC purchased a new position in AppLovin during the 3rd quarter worth $33,000. Castleview Partners LLC purchased a new position in AppLovin during the 3rd quarter worth $38,000. Atlas Capital Advisors LLC purchased a new position in AppLovin during the 1st quarter worth $38,000. Finally, Cullen Frost Bankers Inc. purchased a new position in AppLovin during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BTIG Research increased their price objective on AppLovin from $65.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on AppLovin from $59.00 to $73.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Morgan Stanley raised their price target on AppLovin from $55.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 16th. Daiwa Capital Markets assumed coverage on AppLovin in a research report on Monday, April 15th. They issued a "neutral" rating and a $80.00 price objective on the stock. Finally, Wedbush lifted their price objective on AppLovin from $67.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and a consensus price target of $59.31.

AppLovin Stock Performance

AppLovin stock traded up $4.61 during mid-day trading on Friday, reaching $73.82. 5,381,253 shares of the stock traded hands, compared to its average volume of 3,326,516. The stock has a market capitalization of $25.25 billion, a PE ratio of 73.82, a price-to-earnings-growth ratio of 1.48 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a 12-month low of $15.70 and a 12-month high of $79.55. The business's 50-day moving average is $67.13 and its 200-day moving average is $50.10.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business 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 business posted ($0.21) earnings per share. The business's quarterly revenue was up 35.7% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin will post 2.49 EPS for the current fiscal 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.