AppLovin Co. (NASDAQ:APP) CEO Sells $18,243,516.00 in Stock

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arash Adam Foroughi also recently made the following trade(s):

• On Friday, February 21st, Arash Adam Foroughi sold 45,000 shares of AppLovin stock. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00.
• On Tuesday, December 10th, Arash Adam Foroughi sold 1,676 shares of AppLovin stock. The shares were sold at an average price of $356.39, for a total value of $597,309.64.

AppLovin Trading Down 3.2 %

AppLovin stock opened at $320.49 on Friday. AppLovin Co. has a 12-month low of $57.40 and a 12-month high of $525.15. The stock has a market capitalization of $107.55 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The firm has a 50 day simple moving average of $368.10 and a 200-day simple moving average of $251.23. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Benchmark boosted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Piper Sandler raised their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised their price target on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Oppenheimer restated an “outperform” rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $452.29.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new position in shares of AppLovin in the fourth quarter valued at $28,000. Finally, Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.