AppLovin Co. (NASDAQ:APP) CEO Sells $18,243,516.00 in Stock

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 44,400 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, 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 available through the SEC website.

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

AppLovin Price Performance

NASDAQ:APP opened at $320.49 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $107.55 billion, a P/E ratio of 70.59, a PEG ratio of 3.02 and a beta of 2.30. The company has a fifty day moving average price of $368.10 and a 200 day moving average price of $251.23. AppLovin Co. has a one year low of $57.40 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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%. Analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at $25,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the 4th quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Finally, Riverview Trust Co increased its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

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.