Shares of Applovin rose to $22.55 during today's afternoon trading session. Despite the 26.6% change, the large-cap Data Processing Services company still trades 9.1% above its average analyst target price of $20.67. So there may be further downside for the Data Processing Services stock. Applovin has target prices ranging from $9.0 to $47.0 per share, and its average rating is buy.
The stock has an above average percentage of its shares sold short at 8.9%, and a short ratio of 6.35. Since 35.37% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 54.2% of Applovin's shares being owned by this investor type.
Institutions Invested in Applovin
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2022-12-31 | Kohlberg Kravis Roberts & Co. L.P. | 20% | 60,735,000 | $1,369,574,203 |
| 2022-12-31 | Vanguard Group, Inc. (The) | 5% | 15,832,711 | $357,027,620 |
| 2022-12-31 | Blackrock Inc. | 3% | 8,810,356 | $198,673,521 |
| 2022-12-31 | Spruce House Investment Management LLC | 2% | 5,000,000 | $112,749,996 |
| 2022-12-31 | Invenomic Capital Management, LP | 1% | 4,376,277 | $98,685,043 |
| 2022-12-31 | Tiger Global Management, LLC | 1% | 4,264,272 | $96,159,330 |
| 2022-12-31 | First Trust Advisors LP | 1% | 3,895,978 | $87,854,300 |
| 2023-03-31 | NetEase, Inc. | 1% | 3,513,331 | $79,225,611 |
| 2022-12-31 | AQR Capital Management, LLC | 1% | 3,134,934 | $70,692,759 |
| 2022-12-31 | State Street Corporation | 1% | 2,932,388 | $66,125,347 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Applovin.
