AppLovin (NASDAQ:APP) CEO Sells $10,497,957.03 in Stock

AppLovin Corporation (NASDAQ:APP) CEO Arash Adam Foroughi sold 20,833 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $503.91, for a total value of $10,497,957.03. Following the sale, the chief executive officer directly owned 2,962,184 shares of the company’s stock, valued at $1,492,674,139.44. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $476.30, for a total value of $4,107,611.20.
• On Friday, June 12th, Arash Adam Foroughi sold 19,123 shares of AppLovin stock. The stock was sold at an average price of $482.02, for a total value of $9,217,668.46.
• On Thursday, June 11th, Arash Adam Foroughi sold 33,042 shares of AppLovin stock. The stock was sold at an average price of $486.95, for a total value of $16,089,801.90.
• 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 Stock Performance

Shares of NASDAQ APP opened at $496.77 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $166.88 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 0.81 and a beta of 2.45. The business’s 50-day simple moving average is $482.88 and its 200-day simple moving average is $520.57. AppLovin Corporation has a 52 week low of $320.00 and a 52 week high of $745.61.

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

AppLovin News Roundup

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

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of AppLovin by 131.7% during the 3rd quarter. Allworth Financial LP now owns 6,049 shares of the company’s stock valued at $4,347,000 after purchasing an additional 3,438 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $4,958,000. Metis Global Partners LLC grew its position in shares of AppLovin by 138.3% in the 3rd quarter. Metis Global Partners LLC now owns 10,094 shares of the company’s stock valued at $7,253,000 after purchasing an additional 5,859 shares during the period. Franklin Resources Inc. grew its position in shares of AppLovin by 24.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,442,450 shares of the company’s stock valued at $1,754,996,000 after purchasing an additional 487,492 shares during the period. Finally, TIAA Trust National Association grew its position in shares of AppLovin by 431.7% in the 3rd quarter. TIAA Trust National Association now owns 52,749 shares of the company’s stock valued at $37,902,000 after purchasing an additional 42,829 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, May 28th. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Citigroup reissued a “buy” rating and set a $710.00 price objective on shares of AppLovin in a report on Monday, June 1st. Finally, Benchmark reaffirmed a “buy” rating on shares of AppLovin in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $669.62.

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.