Insider Selling: AppLovin Co. (NASDAQ:APP) CEO Sells 100,000 Shares of Stock

AppLovin Co. (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 100,000 shares of AppLovin stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $367.51, for a total value of $36,751,000.00. Following the transaction, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at approximately $1,014,461,006.13. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, May 20th, Arash Adam Foroughi sold 56,300 shares of AppLovin stock. The stock was sold at an average price of $363.64, for a total transaction of $20,472,932.00.
• 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 transaction of $18,243,516.00.

AppLovin Stock Down 1.9%

AppLovin stock traded down $6.88 during mid-day trading on Thursday, reaching $351.47. 5,318,758 shares of the company's stock were exchanged, compared to its average volume of 6,040,372. The company has a fifty day moving average of $290.23 and a 200-day moving average of $321.52. The company has a market cap of $118.93 billion, a P/E ratio of 77.42, a P/E/G ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APP. Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $433.85.

Hedge Funds Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. McAdam LLC lifted its stake in AppLovin by 54.6% in the first quarter. McAdam LLC now owns 1,940 shares of the company's stock worth $514,000 after acquiring an additional 685 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of AppLovin by 65.6% during the first quarter. Acadian Asset Management LLC now owns 17,960 shares of the company's stock worth $4,752,000 after purchasing an additional 7,113 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in AppLovin by 285.8% in the first quarter. Geneos Wealth Management Inc. now owns 4,398 shares of the company's stock valued at $1,165,000 after buying an additional 3,258 shares during the last quarter. Intech Investment Management LLC raised its stake in AppLovin by 24.2% in the first quarter. Intech Investment Management LLC now owns 84,364 shares of the company's stock valued at $22,354,000 after buying an additional 16,419 shares in the last quarter. Finally, Capital Impact Advisors LLC purchased a new position in shares of AppLovin in the 1st quarter valued at about $8,957,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Company Profile

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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