AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 44,400 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, February 21st, Arash Adam Foroughi sold 45,000 shares of AppLovin stock. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00.
• On Tuesday, December 10th, Arash Adam Foroughi sold 1,676 shares of AppLovin stock. The shares were sold at an average price of $356.39, for a total value of $597,309.64.

AppLovin Trading Down 8.1 %

Shares of APP stock opened at $377.06 on Wednesday. AppLovin Co. has a 12 month low of $57.40 and a 12 month high of $525.15. The company has a market cap of $126.54 billion, a PE 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 business’s 50 day moving average is $367.70 and its two-hundred day moving average is $250.18.

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

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in AppLovin during the 3rd quarter valued at approximately $281,000. Private Advisor Group LLC lifted its holdings in shares of AppLovin by 58.0% during the third quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock worth $1,474,000 after buying an additional 4,147 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $56,410,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after acquiring an additional 157 shares during the period. Finally, Forsta AP Fonden grew its stake in shares of AppLovin by 100.0% in the third quarter. Forsta AP Fonden now owns 92,000 shares of the company’s stock worth $12,011,000 after acquiring an additional 46,000 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie upped their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $442.18.

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.