Insider Selling: AppLovin (NASDAQ:APP) CEO Sells 26,200 Shares of Stock

Key Points

• AppLovin CEO Arash Adam Foroughi sold 26,200 shares of the company's stock at an average price of $440.23, totaling approximately $11.53 million, which decreased his ownership stake by 1.00%.
• Despite a recent earnings miss for the second quarter, AppLovin's stock has received several analyst price target increases, reflecting a generally positive outlook with a consensus rating of "Moderate Buy."
• AppLovin's shares experienced a trading volume of over 6 million, with the stock currently valued close to its 12-month high of $525.15, indicating strong market performance in recent trading sessions.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00. Following the transaction, the chief executive officer directly owned 2,590,054 shares of the company's stock, valued at $1,140,219,472.42. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $402.11, for a total value of $5,038,036.19.
• On Wednesday, August 20th, Arash Adam Foroughi sold 15,660 shares of AppLovin stock. The shares were sold at an average price of $404.59, for a total value of $6,335,879.40.
• On Wednesday, August 20th, Arash Adam Foroughi sold 15,042 shares of AppLovin stock. The shares were sold at an average price of $404.28, for a total value 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 value 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 value 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 value 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 value 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 value 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 value of $1,519,405.94.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $22.92 during midday trading on Friday, hitting $441.68. The company had a trading volume of 6,199,963 shares, compared to its average volume of 6,240,730. AppLovin Corporation has a twelve month low of $82.51 and a twelve month high of $525.15. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market cap 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. The business's 50-day simple moving average is $373.84 and its 200-day simple moving average is $344.71.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The business's revenue for the quarter was up 77.1% on a year-over-year basis. On average, research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APP shares. Morgan Stanley increased their price target on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Scotiabank increased their price objective on AppLovin from $430.00 to $450.00 and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. UBS Group increased their price objective on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their price objective on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $472.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new stake in AppLovin during the 1st quarter worth about $26,000. Hilltop National Bank purchased a new stake in AppLovin during the 2nd quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in AppLovin during the 2nd quarter worth about $26,000. Finally, Alpine Bank Wealth Management purchased a new stake in AppLovin during the 1st quarter worth about $27,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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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