Arash Adam Foroughi Sells 22,544 Shares of AppLovin (NASDAQ:APP) Stock

Key Points

• AppLovin CEO Arash Adam Foroughi sold 22,544 shares on June 12 at an average price of $494.98, totaling about $11.16 million. The sale reduced his ownership by 0.96% and was disclosed in an SEC filing.
• Foroughi also made multiple other stock sales on June 10 and 11, with several transactions worth millions of dollars each. The recent insider selling may weigh on investor sentiment in the near term.
• AppLovin reported strong quarterly results, beating EPS and revenue estimates with $3.56 EPS and $1.84 billion in revenue, up 58.9% year over year. Analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 22,544 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the sale, the chief executive officer owned 2,327,684 shares in the company, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, June 11th, Arash Adam Foroughi sold 8,624 shares of AppLovin stock. The stock was sold at an average price of $476.30, for a total transaction of $4,107,611.20.
• On Wednesday, June 10th, Arash Adam Foroughi sold 20,833 shares of AppLovin stock. The stock was sold at an average price of $503.91, for a total transaction of $10,497,957.03.
• On Friday, June 12th, Arash Adam Foroughi sold 19,123 shares of AppLovin stock. The stock was sold at an average price of $482.02, for a total transaction of $9,217,668.46.
• On Thursday, June 11th, Arash Adam Foroughi sold 33,042 shares of AppLovin stock. The stock was sold at an average price of $486.95, for a total transaction of $16,089,801.90.

AppLovin Price Performance

NASDAQ APP traded up $18.20 on Friday, hitting $496.77. The stock had a trading volume of 4,334,425 shares, compared to its average volume of 4,517,439. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 0.78 and a beta of 2.45. The firm has a 50-day moving average of $482.88 and a 200-day moving average of $520.84.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company posted $1.67 EPS. The business's revenue for the quarter was up 58.9% compared to the same quarter last year. Equities analysts expect that AppLovin Corporation will post 15.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Argus assumed coverage on shares of AppLovin in a research note on Tuesday, April 14th. They issued a "buy" rating and a $520.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $500.00 to $515.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Citigroup restated a "buy" rating and set a $710.00 price objective on shares of AppLovin in a research report on Monday, June 1st. Piper Sandler restated an "overweight" rating on shares of AppLovin in a research report on Tuesday. Finally, Wedbush restated an "outperform" rating and set a $640.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $669.62.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Militia Capital Management LLC purchased a new stake in shares of AppLovin during the 1st quarter valued at $3,184,000. Rathbones Group PLC raised its position in shares of AppLovin by 69.6% during the 1st quarter. Rathbones Group PLC now owns 702 shares of the company's stock valued at $279,000 after buying an additional 288 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of AppLovin by 4.4% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 12,388 shares of the company's stock valued at $4,930,000 after buying an additional 527 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of AppLovin by 12.2% during the 1st quarter. Glenmede Trust Co. NA now owns 5,075 shares of the company's stock valued at $2,020,000 after purchasing an additional 550 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in AppLovin in the 1st quarter worth $572,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin News Summary

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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