AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 44,400 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 44,400 shares of AppLovin 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00.
• 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 transaction of $597,309.64.

AppLovin Trading Down 1.2 %

NASDAQ APP opened at $410.45 on Tuesday. The firm’s fifty day moving average price is $366.92 and its 200 day moving average price is $248.07. AppLovin Co. has a 12 month low of $57.40 and a 12 month high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $137.74 billion, a price-to-earnings ratio of 90.41, a price-to-earnings-growth ratio of 3.28 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. SVB Wealth LLC purchased a new stake in AppLovin in the 4th quarter valued at $1,781,922,000. State Street Corp boosted its stake in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the period. Finally, Geode Capital Management LLC grew its position in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several research reports. The Goldman Sachs Group boosted their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Wedbush reissued 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. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $442.18.

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.