AppLovin Co. (NASDAQ:APP) CEO Sells $18,999,450.00 in Stock

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 stock was sold at an average price of $410.89, for a total value of $18,243,516.00.
• 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 Stock Down 8.1 %

APP stock opened at $377.06 on Wednesday. The stock has a market capitalization 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. AppLovin Co. has a 52 week low of $57.40 and a 52 week high of $525.15. 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 has a 50 day moving average of $367.70 and a 200 day moving average of $250.18.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping 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%. Sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Benchmark lifted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie boosted their price objective 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. Loop Capital increased their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $442.18.

Institutional Trading of AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. SVB Wealth LLC purchased a new position in AppLovin during the 4th quarter worth approximately $1,781,922,000. Baillie Gifford & Co. raised its position in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Norges Bank acquired a new stake in AppLovin during the 4th quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.