Arash Adam Foroughi Sells 22,544 Shares of AppLovin (NASDAQ:APP) Stock

AppLovin Corporation (NASDAQ:APP) CEO Arash Adam Foroughi sold 22,544 shares of AppLovin stock in a transaction on Friday, June 12th. The stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12. Following the completion of the transaction, the chief executive officer owned 2,327,684 shares in the company, valued at approximately $1,152,157,026.32. The trade was a 0.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction of $4,107,611.20.
• On Wednesday, June 10th, Arash Adam Foroughi sold 20,833 shares of AppLovin stock. The stock was sold at an average price of $503.91, for a total transaction of $10,497,957.03.
• 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 transaction 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 transaction of $16,089,801.90.

AppLovin Trading Up 3.8%

NASDAQ:APP traded up $18.20 during trading hours on Friday, reaching $496.77. The company’s stock had a trading volume of 4,334,425 shares, compared to its average volume of 4,517,439. The firm has a market capitalization of $166.88 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45. The firm has a 50-day simple moving average of $482.88 and a 200-day simple moving average of $520.84. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The firm’s revenue was up 58.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. Research analysts expect that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on APP shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, February 12th. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday. Arete Research set a $340.00 price target on shares of AppLovin and gave the stock a “neutral” rating in a report on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Finally, Argus started coverage on shares of AppLovin in a report on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target on the stock. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $669.62.

AppLovin News Summary

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 Investors Weigh In On AppLovin

Large investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin during the 1st quarter valued at about $25,000. Board of the Pension Protection Fund bought a new stake in shares of AppLovin during the 4th quarter valued at about $27,000. Washington Trust Advisors Inc. boosted its stake in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at about $27,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter valued at about $32,000. Institutional investors own 41.85% of the company’s stock.

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.