Durable Capital Partners LP Acquires 3,903,632 Shares of APi Group Corporation $APG

Key Points

• Durable Capital Partners LP increased its holdings in APi Group Corporation by 78.0% during the first quarter, now owning approximately 8.9 million shares valued at $318.7 million.
• Insider transactions included Director Ian G. H. Ashken selling 205,550 shares for over $7.24 million, decreasing his ownership by 2.51%.
• APi Group reported strong quarterly earnings, with revenue of $1.99 billion surpassing estimates, and has received several upgrades from analysts, with a consensus target price of $36.10.

Durable Capital Partners LP boosted its stake in APi Group Corporation (NYSE:APG - Free Report) by 78.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,911,171 shares of the company's stock after buying an additional 3,903,632 shares during the quarter. APi Group makes up about 2.8% of Durable Capital Partners LP's investment portfolio, making the stock its 15th largest position. Durable Capital Partners LP owned 3.22% of APi Group worth $318,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. SVB Wealth LLC acquired a new stake in APi Group in the 1st quarter valued at $38,000. GAMMA Investing LLC boosted its stake in APi Group by 105.5% in the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock worth $55,000 after purchasing an additional 785 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of APi Group by 339.0% during the first quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock worth $58,000 after purchasing an additional 1,261 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of APi Group by 40.5% in the first quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company's stock valued at $60,000 after buying an additional 482 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of APi Group by 6.7% in the first quarter. Signaturefd LLC now owns 4,067 shares of the company's stock valued at $145,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APG. Robert W. Baird upped their price target on shares of APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. UBS Group upped their price target on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upgraded shares of APi Group from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $42.00 in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Barclays reiterated an "overweight" rating and set a $42.00 price target (up previously from $40.00) on shares of APi Group in a research report on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $36.10.

APi Group Trading Down 0.2%

Shares of APG traded down $0.05 during trading hours on Friday, hitting $34.97. 1,986,760 shares of the stock traded hands, compared to its average volume of 2,418,798. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $36.55. The firm has a market capitalization of $14.54 billion, a PE ratio of 109.27 and a beta of 1.61. The business has a fifty day moving average of $34.95 and a 200-day moving average of $29.99.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.88 billion. APi Group had a return on equity of 21.33% and a net margin of 3.35%.The firm's revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that APi Group Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 205,550 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total value of $7,243,582.00. Following the completion of the sale, the director owned 7,968,167 shares in the company, valued at approximately $280,798,205.08. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James E. Lillie sold 95,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $35.23, for a total value of $3,346,850.00. Following the completion of the sale, the director owned 7,348,101 shares of the company's stock, valued at $258,873,598.23. This represents a 1.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,789,843 shares of company stock worth $62,262,672. Company insiders own 17.00% of the company's stock.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.