Insider Selling: APi Group (NYSE:APG) Director Sells 85,072 Shares of Stock

Key Points

• APi Group director Ian Ashken sold 85,072 shares at an average price of $40.36, generating approximately $3.43 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 9.18 million shares.
• APi Group reported quarterly revenue of $2.25 billion, up 13.3% year over year, and adjusted earnings of $0.44 per share, slightly exceeding analyst expectations.
• The stock recently traded at $41.83, while analysts maintain a “Moderate Buy” consensus with an average price target of $52.57; institutional investors own 86.62% of outstanding shares.

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian Ashken sold 85,072 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total value of $3,433,505.92. Following the completion of the transaction, the director owned 9,177,284 shares in the company, valued at $370,395,182.24. This represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Up 0.7%

NYSE APG traded up $0.29 on Wednesday, reaching $41.83. The company had a trading volume of 2,136,496 shares, compared to its average volume of 2,886,400. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91. The company's fifty day moving average is $41.26 and its 200 day moving average is $42.68. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99. The stock has a market capitalization of $18.08 billion, a P/E ratio of -62.43, a P/E/G ratio of 2.32 and a beta of 1.60.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. Sell-side analysts anticipate that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APi Group

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in shares of APi Group by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock valued at $946,846,000 after purchasing an additional 250,873 shares in the last quarter. Durable Capital Partners LP raised its position in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after purchasing an additional 4,274,610 shares during the period. Viking Global Investors LP lifted its stake in APi Group by 6.7% in the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after purchasing an additional 768,759 shares during the last quarter. State Street Corp lifted its stake in APi Group by 0.8% in the fourth quarter. State Street Corp now owns 10,863,164 shares of the company's stock worth $415,625,000 after purchasing an additional 91,388 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in APi Group by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company's stock valued at $277,465,000 after buying an additional 624,529 shares during the period. 86.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APG has been the subject of several research analyst reports. Wells Fargo & Company started coverage on APi Group in a research report on Tuesday. They set an "overweight" rating and a $53.00 target price for the company. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a "buy" rating in a report on Friday, May 1st. UBS Group set a $52.00 price target on shares of APi Group in a report on Monday, July 20th. Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Robert W. Baird set a $47.00 target price on shares of APi Group in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.57.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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