Apple Inc. (NASDAQ:AAPL) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 48,108,995 shares, a growth of 23.0% from the August 15th total of 39,117,077 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,493,606 shares, the days-to-cover ratio is presently 1.9 days.

In other Apple news, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. Insiders own 0.08% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Frontier Investment Mgmt Co. grew its stake in shares of Apple by 2.1% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 289,525 shares of the iPhone maker’s stock valued at $41,697,000 after acquiring an additional 6,040 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of Apple by 0.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,060,062 shares of the iPhone maker’s stock valued at $152,670,000 after acquiring an additional 8,536 shares during the period. Pinnacle Family Advisors LLC grew its stake in shares of Apple by 17.8% during the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock valued at $1,938,000 after acquiring an additional 2,035 shares during the period. Intl Fcstone Inc. grew its stake in shares of Apple by 171.1% during the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock valued at $4,569,000 after acquiring an additional 20,022 shares during the period. Finally, Griffin Asset Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at approximately $7,126,000. Institutional investors own 60.45% of the company’s stock.

Shares of Apple (NASDAQ:AAPL) opened at 159.88 on Friday. The stock has a market capitalization of $825.82 billion, a P/E ratio of 18.15 and a beta of 1.27. Apple has a one year low of $104.08 and a one year high of $164.94. The stock has a 50 day moving average of $158.97 and a 200-day moving average of $149.42.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. Equities analysts forecast that Apple will post $9.01 earnings per share for the current year.

Several analysts have recently commented on AAPL shares. Drexel Hamilton reissued a “buy” rating and set a $202.00 price target on shares of Apple in a research note on Thursday, July 6th. Barclays PLC reissued a “hold” rating and set a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Instinet reissued a “buy” rating and set a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price target on shares of Apple in a research note on Monday, September 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $182.00 price target on shares of Apple in a research note on Tuesday, September 12th. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $187.63.

COPYRIGHT VIOLATION WARNING: “Apple Inc. (AAPL) Sees Significant Increase in Short Interest” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/17/apple-inc-aapl-sees-significant-increase-in-short-interest.html.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.