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 the company’s stock in a transaction that occurred 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 directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 shares were 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 stock was sold at an average price of $356.39, for a total value of $597,309.64.

AppLovin Price Performance

NASDAQ:APP opened at $377.06 on Wednesday. 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 market cap of $126.54 billion, a P/E ratio of 83.05, a PEG ratio of 3.02 and a beta of 2.30. The business’s 50-day moving average price is $367.70 and its 200 day moving average price is $250.18.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (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%. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APP. Townsquare Capital LLC grew its holdings in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at $224,000. State Street Corp increased its stake in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the period. Finally, Zacks Investment Management raised its holdings in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after buying an additional 81,331 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. UBS Group upped their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Benchmark increased their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Loop Capital raised 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. Four research 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 MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average 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.