Insider Selling: AppLovin (NASDAQ:APP) CEO Sells $37,893,600.00 in Stock

Key Points

• AppLovin CEO Arash Adam Foroughi sold a total of 90,000 shares worth approximately $37.89 million on August 21st, leading to a 3.32% decrease in his ownership.
• The stock has been performing strongly recently, hitting $441.68 with a market capitalization of $149.40 billion. AppLovin reported an earnings per share of $2.26 for the last quarter, surpassing analysts' expectations.
• Despite some fluctuations, analyst ratings remain positive with 18 Buy ratings and an average price target of $472.86, reflecting confidence in the company’s growth potential.

AppLovin Corporation (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the sale, the chief executive officer owned 2,620,054 shares of the company's stock, valued at $1,103,147,536.16. This represents a 3.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was 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 stock was sold at an average price of $404.59, for a total transaction of $6,335,879.40.
• On Wednesday, August 20th, Arash Adam Foroughi sold 15,042 shares of AppLovin stock. The stock was sold at an average price of $404.28, for a total transaction 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 transaction of $3,946,168.42.
• On Thursday, August 21st, Arash Adam Foroughi sold 370 shares of AppLovin stock. The stock was sold at an average price of $420.18, for a total transaction of $155,466.60.
• 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 transaction of $227,016.49.
• On Friday, August 22nd, Arash Adam Foroughi sold 3,800 shares of AppLovin stock. The stock was 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.
• On Friday, August 22nd, Arash Adam Foroughi sold 26,200 shares of AppLovin stock. The shares were sold at an average price of $440.23, for a total value of $11,534,026.00.

AppLovin Price Performance

NASDAQ APP traded up $22.92 during trading on Friday, hitting $441.68. 6,199,963 shares of the stock traded hands, compared to its average volume of 6,240,730. The company has a market capitalization of $149.40 billion, a P/E ratio of 60.60, a price-to-earnings-growth ratio of 2.34 and a beta of 2.43. The firm has a 50-day simple moving average of $373.84 and a 200-day simple moving average of $344.71. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a 12-month low of $82.51 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share 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 business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business posted $0.89 EPS. The firm's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, analysts predict that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush restated an "outperform" rating and set a $620.00 price objective on shares of AppLovin in a research report on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. Morgan Stanley increased their target price on shares of AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Piper Sandler increased their target price on shares of AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $472.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilltop National Bank bought a new position in AppLovin during the 2nd quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of AppLovin during the second quarter valued at about $26,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the fourth quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of AppLovin during the second quarter valued at about $33,000. Finally, Atala Financial Inc purchased a new stake in shares of AppLovin during the first quarter valued at about $26,000. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

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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