AppLovin Corporation (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 15,660 shares of AppLovin stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.59, for a total transaction of $6,335,879.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Arash Adam Foroughi also recently made the following trade(s):
- On Wednesday, August 20th, Arash Adam Foroughi sold 12,529 shares of AppLovin stock. The stock was sold at an average price of $402.11, for a total transaction of $5,038,036.19.
- On Wednesday, August 20th, Arash Adam Foroughi sold 15,042 shares of AppLovin stock. The stock was sold at an average price of $404.28, for a total transaction of $6,081,179.76.
- On Wednesday, August 20th, Arash Adam Foroughi sold 9,706 shares of AppLovin stock. The shares were sold at an average price of $406.57, for a total transaction of $3,946,168.42.
- On Thursday, August 21st, Arash Adam Foroughi sold 370 shares of AppLovin stock. The shares were sold at an average price of $420.18, for a total transaction of $155,466.60.
- On Thursday, August 21st, Arash Adam Foroughi sold 90,000 shares of AppLovin stock. The shares were sold at an average price of $421.04, for a total transaction of $37,893,600.00.
- On Wednesday, August 20th, Arash Adam Foroughi sold 557 shares of AppLovin stock. The shares were sold at an average price of $407.57, for a total transaction of $227,016.49.
- On Friday, August 22nd, Arash Adam Foroughi sold 3,800 shares of AppLovin stock. The shares were sold at an average price of $418.09, for a total transaction of $1,588,742.00.
- On Thursday, August 21st, Arash Adam Foroughi sold 3,601 shares of AppLovin stock. The shares were sold at an average price of $421.94, for a total transaction of $1,519,405.94.
- On Friday, August 22nd, Arash Adam Foroughi sold 26,200 shares of AppLovin stock. The shares were sold at an average price of $440.23, for a total transaction of $11,534,026.00.
AppLovin Stock Performance
NASDAQ APP traded up $22.92 during trading on Friday, reaching $441.68. The company's stock had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $149.40 billion, a price-to-earnings ratio of 60.60, a price-to-earnings-growth ratio of 2.34 and a beta of 2.43. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15. The firm has a 50 day moving average price of $373.84 and a 200 day moving average price of $344.71.
AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.
Hedge Funds Weigh In On AppLovin
A number of institutional investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC increased its position in AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company's stock valued at $445,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company's stock valued at $45,675,000 after acquiring an additional 66,453 shares during the period. Yousif Capital Management LLC increased its position in AppLovin by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company's stock valued at $939,000 after acquiring an additional 119 shares during the period. Peak Retirement Planning Inc. acquired a new position in AppLovin in the 4th quarter valued at approximately $969,000. Finally, Assenagon Asset Management S.A. increased its position in AppLovin by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company's stock valued at $1,106,000 after acquiring an additional 121 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. Wells Fargo & Company upped their price target on shares of AppLovin from $480.00 to $491.00 and gave the stock an "overweight" rating in a report on Thursday. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Zacks Research raised shares of AppLovin to a "strong-buy" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $472.86.
Check Out Our Latest Stock Report on AppLovin
About AppLovin
(
Get Free Report)
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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