AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 45,000 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. 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 Monday, February 24th, Arash Adam Foroughi sold 44,400 shares of AppLovin stock. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00.
• On Tuesday, December 10th, Arash Adam Foroughi sold 1,676 shares of AppLovin stock. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64.

AppLovin Trading Down 8.1 %

APP stock opened at $377.06 on Wednesday. AppLovin Co. has a twelve month low of $57.40 and a twelve month high of $525.15. The stock has a market capitalization of $126.54 billion, a price-to-earnings ratio of 83.05, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s fifty day simple moving average is $367.70 and its two-hundred day simple moving average is $250.18.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JFS Wealth Advisors LLC boosted its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock valued at $170,000 after purchasing an additional 33 shares during the period. Forum Financial Management LP grew its holdings in shares of AppLovin by 0.9% in the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Loop Capital lifted their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer restated an “outperform” rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Finally, Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $442.18.

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.