Arash Adam Foroughi Sells 44,400 Shares of AppLovin Co. (NASDAQ:APP) Stock

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 transaction of $597,309.64.

AppLovin Trading Down 12.2 %

Shares of NASDAQ:APP opened at $331.00 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1 year low of $57.40 and a 1 year high of $525.15. The firm has a fifty day moving average price of $368.06 and a 200 day moving average price of $250.75. The stock has a market capitalization of $111.08 billion, a PE ratio of 72.91, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the fourth quarter valued at about $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter valued at about $25,000. Riverview Trust Co boosted its holdings in AppLovin by 1,640.0% during 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. Tucker Asset Management LLC bought a new stake in AppLovin during the fourth quarter valued at about $28,000. Finally, Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Benchmark upped their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Loop Capital upped their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $442.18.

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.