AppLovin (NASDAQ:APP) CEO Sells $16,089,801.90 in Stock

AppLovin Corporation (NASDAQ:APP) CEO Arash Adam Foroughi sold 33,042 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $486.95, for a total value of $16,089,801.90. Following the sale, the chief executive officer directly owned 2,369,351 shares of the company’s stock, valued at approximately $1,153,755,469.45. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, June 11th, Arash Adam Foroughi sold 8,624 shares of AppLovin stock. The shares were sold at an average price of $476.30, for a total value of $4,107,611.20.
• On Wednesday, June 10th, Arash Adam Foroughi sold 20,833 shares of AppLovin stock. The shares were sold at an average price of $503.91, for a total value of $10,497,957.03.
• On Friday, June 12th, Arash Adam Foroughi sold 19,123 shares of AppLovin stock. The shares were sold at an average price of $482.02, for a total value of $9,217,668.46.
• On Friday, June 12th, Arash Adam Foroughi sold 22,544 shares of AppLovin stock. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12.

AppLovin Trading Up 3.8%

APP stock traded up $18.20 during trading on Friday, reaching $496.77. 4,334,425 shares of the stock traded hands, compared to its average volume of 4,517,439. The business’s 50 day moving average price is $482.88 and its 200-day moving average price is $520.84. AppLovin Corporation has a 52-week low of $320.00 and a 52-week high of $745.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market capitalization of $166.88 billion, a PE ratio of 42.68, a P/E/G ratio of 0.78 and a beta of 2.45.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Corporation will post 15.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Militia Capital Management LLC acquired a new position in shares of AppLovin in the first quarter worth about $3,184,000. Rathbones Group PLC raised its stake in AppLovin by 69.6% during the first quarter. Rathbones Group PLC now owns 702 shares of the company’s stock valued at $279,000 after buying an additional 288 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in AppLovin by 4.4% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 12,388 shares of the company’s stock valued at $4,930,000 after buying an additional 527 shares in the last quarter. Glenmede Trust Co. NA raised its stake in AppLovin by 12.2% during the first quarter. Glenmede Trust Co. NA now owns 5,075 shares of the company’s stock valued at $2,020,000 after buying an additional 550 shares in the last quarter. Finally, Groupama Asset Managment acquired a new stake in AppLovin during the first quarter valued at approximately $572,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Citigroup reaffirmed a “buy” rating and issued a $710.00 target price on shares of AppLovin in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research report on Thursday, May 7th. Oppenheimer decreased their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Arete Research set a $340.00 target price on AppLovin and gave the stock a “neutral” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $669.62.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Negative Sentiment: CEO Arash Adam Foroughi sold additional AppLovin shares on June 10, 11, and 12, including several transactions worth millions of dollars, which may pressure investor confidence in the near term. SEC filing
• Neutral Sentiment: Recent commentary from analysts and financial media remained constructive overall, with one piece arguing AppLovin’s selloff looks detached from fundamentals and highlighting strong Q1 revenue, EBITDA, and free cash flow growth. Article
• Neutral Sentiment: Separately, coverage noted that brokers still generally view AppLovin as an attractive stock, though these recommendations are often considered lagging indicators and may not move the shares much on their own. Article

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.