Insider Selling: AppLovin Co. (NASDAQ:APP) CEO Sells 45,000 Shares of Stock

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, February 24th, Arash Adam Foroughi sold 44,400 shares of AppLovin stock. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00.
• On Tuesday, December 10th, Arash Adam Foroughi sold 1,676 shares of AppLovin stock. The stock was sold at an average price of $356.39, for a total value of $597,309.64.

AppLovin Stock Performance

NASDAQ APP opened at $331.00 on Thursday. AppLovin Co. has a 1-year low of $57.40 and a 1-year high of $525.15. The company has a market capitalization of $111.08 billion, a P/E ratio of 72.91, a PEG ratio of 3.02 and a beta of 2.30. The business has a 50 day moving average price of $368.06 and a 200 day moving average price of $250.75. 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 released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $442.18.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently made changes to their positions in APP. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the third quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at $27,000. Finally, Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.