After this morning's -3.3% drop to $335.17 per share, AppLovin might just keep moving past its target price of $338.6. With an average analyst rating of buy, and target prices from $105.0 to $480.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 5.9%, and a short ratio of 2.34. The company's insiders own 26.84% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 65.9% of AppLovin's shares being owned by this investor type.
Institutions Invested in AppLovin
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 8% | 23,259,800 | $7,795,987,478 |
| 2024-09-30 | Blackrock Inc. | 5% | 14,414,203 | $4,831,208,613 |
| 2024-09-30 | WCM Investment Management, LLC | 4% | 10,820,409 | $3,626,676,629 |
| 2024-09-30 | GQG Partners LLC | 3% | 9,604,336 | $3,219,085,426 |
| 2024-09-30 | FMR, LLC | 3% | 7,893,237 | $2,645,576,351 |
| 2024-09-30 | State Street Corporation | 2% | 5,388,023 | $1,805,903,741 |
| 2024-09-30 | Price (T.Rowe) Associates Inc | 2% | 5,222,043 | $1,750,272,222 |
| 2024-09-30 | Bank of America Corporation | 2% | 4,619,862 | $1,548,439,208 |
| 2024-09-30 | Geode Capital Management, LLC | 1% | 3,946,135 | $1,322,626,120 |
| 2024-09-30 | Spruce House Investment Management LLC | 1% | 3,600,000 | $1,206,612,048 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on AppLovin.
