AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 56,300 Shares

AppLovin Co. (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 56,300 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $363.64, for a total transaction of $20,472,932.00. Following the transaction, the chief executive officer now owns 2,860,363 shares of the company's stock, valued at $1,040,142,401.32. This represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 21st, Arash Adam Foroughi sold 100,000 shares of AppLovin stock. The shares were sold at an average price of $367.51, for a total transaction of $36,751,000.00.
• On Tuesday, May 20th, Arash Adam Foroughi sold 33,700 shares of AppLovin stock. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00.
• 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 Monday, February 24th, Arash Adam Foroughi sold 44,400 shares of AppLovin stock. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00.

AppLovin Price Performance

APP traded down $6.88 during trading on Thursday, reaching $351.47. The stock had a trading volume of 5,318,758 shares, compared to its average volume of 6,040,372. The business has a 50-day moving average of $290.23 and a 200-day moving average of $321.52. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $118.93 billion, a PE ratio of 77.42, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on APP shares. Jefferies Financial Group increased their price objective on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Loop Capital reissued a "buy" rating and issued a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price objective for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Finally, Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned 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 a consensus price target of $433.85.

Institutional Trading of AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of APP. FMR LLC lifted its holdings in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin in the fourth quarter worth $1,781,922,000. Baillie Gifford & Co. boosted its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the period. Dynasty Wealth Management LLC grew its stake in shares of AppLovin by 117,664.4% during the first quarter. Dynasty Wealth Management LLC now owns 2,702,694 shares of the company's stock valued at $716,133,000 after buying an additional 2,700,399 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AppLovin during the fourth quarter valued at about $828,138,000. 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.

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