AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi Sells 45,000 Shares

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction 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 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 transaction 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 transaction of $597,309.64.

AppLovin Price Performance

APP opened at $410.45 on Tuesday. AppLovin Co. has a twelve month low of $57.40 and a twelve month high of $525.15. The firm has a market cap of $137.74 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 3.28 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day simple moving average of $366.92 and a 200 day simple moving average of $248.07.

AppLovin (NASDAQ:APP) last announced 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 return on equity of 188.55% and a net margin of 33.54%. Equities research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on APP shares. Stifel Nicolaus lifted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Macquarie lifted 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. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Bank of America lifted their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $442.18.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of APP. FMR LLC boosted its stake in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. WCM Investment Management LLC boosted its stake in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. SVB Wealth LLC bought a new position in AppLovin during the 4th quarter valued at $1,781,922,000. State Street Corp grew its holdings in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.