Why AppLovin’s CEO Is Selling While Quantum Insiders Are Buying

Key Points

• Wall Street analysts forecast more than 30% upside for AppLovin, Quantinuum, and ServiceTitan despite notable insider trading activity across all three stocks.
• Quantinuum saw more than 10 insiders purchase nearly $25 million in shares following its IPO, an unusually bullish signal given that insiders typically sell post-IPO.
• AppLovin CEO Adam Foroughi sold approximately $51 million in discretionary shares in June, though he retains a stake valued at more than $1 billion.

Insiders are making notable trades across several tech stocks. This includes the newest quantum stock on the market, which is seeing significant insider purchases right out of the gate. Meanwhile, insiders are selling two other notable software companies. However, when it comes to analyst forecasts, upside is something that all three have in common.

AppLovin CEO Sells More Than $50 Million in Discretionary Move

First up is advertising technology giant AppLovin NASDAQ: APP. This name stormed onto the stock market scene in 2024, delivering a massive return of over 700%. The company added to this with a return of over 100% in 2025. However, AppLovin has had a much more difficult stretch in 2026, down 25%. This stems from multiple factors, including AppLovin’s high valuation in 2025 and general software stock weakness. Notably, in Q4 2025, AppLovin traded at a forward price-to-earnings ratio as high as 59x. That figure has since fallen to around 31x.

Additionally, the most prominent executive, CEO Adam Foroughi, is selling shares. Overall, Foroughi has sold approximately $51 million worth of AppLovin shares in June. Notably, none of these sales came under a predetermined 10b5-1 plan, indicating that they were discretionary.

However, this is relatively common for Foroughi—he made other large non-10b5-1 sales in March 2026 and November 2025. Furthermore, Foroughi continues to hold a massive stake in AppLovin. After these reported sales, he holds over 2.3 million shares for a total value of more than $1 billion at recent prices. Despite the CEO making substantial and discretionary insider sales, the moves are not particularly concerning given these mitigating factors.

Quantinuum: Insiders Spend Big on Quantum’s Newcomer

Quantinuum NASDAQ: QNT is the new kid on the block when it comes to quantum computing stocks. The company recently completed its IPO, opening at $60 per share. Since then, the stock has put up solid gains, rising more than 15%. Notably, many insiders increased their stakes in the company right after the IPO, purchasing at the $60 price. Overall, more than 10 separate insiders purchased shares, with total buys totaling nearly $25 million.

This is interesting, considering that insiders tend to already have large positions in their company prior to the IPO. In fact, insiders often look to offload their shares after an IPO to gain liquidity. In turn, these buys send more bullish signals than standard insider purchases.

While Quantinuum shares have risen substantially versus their opening price, those gains have not been massive to date, making it more likely than not that insiders will continue to see long-term upside.

Nonetheless, Quantinuum faces risks similar to those of many quantum stocks. Most notable is the firm’s valuation and cash burn. The company generated $5.2 million in revenue in Q1, posted a net loss of $136.6 million, yet has a market capitalization of around $19 billion. This reflects the long-term expectation of many investors that quantum computing will one day become a large and profitable industry. Amid this journey, the U.S. government is providing support for the industry.

ServiceTitan’s Insider Sales Rise, But Remain Far Below 2025 Levels

ServiceTitan NASDAQ: TTAN went public in 2024 and was one of the more hotly anticipated IPOs at the time. The company provides cloud-based software that brings technology to the trades. Targeting industries like plumbing, roofing, and carpentry, ServiceTitan’s software provides sales, marketing, customer management, and job scheduling solutions.

After delivering a meager 3.5% gain in 2025, the market has crushed ServiceTitan shares in 2026, with the stock down more than 30%. Much of this has come due to the general software sell-off.

The firm has also seen a meaningful rise in insider sales in Q2, with the majority of these sales coming in late June. Overall, total sales of $16 million in Q2 are up significantly from less than $7 million in Q1. Furthermore, none of these sales came under a 10b5-1 plan.

It is important to note that ServiceTitan’s overall insider sales still remain very far below their peak. In Q3 2025, ServiceTitan’s insider sales were $172 million. Given this, the company’s recent sales are not overly worrisome. Meanwhile, ServiceTitan continues to grow revenues by more than 20% and improve its profitability significantly. In its latest quarter, adjusted operating margin more than doubled versus the prior year, from 7.5% to 15.2%.

Analysts Eye Big Gains Across AppLovin, Quantinuum, and ServiceTitan

Notably, Wall Street analysts are forecasting significant gains across all three of these stocks. For ServiceTitan, the MarketBeat consensus price target is near $110, implying more than 55% upside. For AppLovin, analysts are projecting upside north of 30%, with the MarketBeat consensus price target near $668. Meanwhile, a plethora of analysts recently initiated coverage on Quantinuum. The average of these targets is just under $99, also implying upside of more than 35%.