Insider Selling: APi Group (NYSE:APG) Director Sells $8,577,776.48 in Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 214,928 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.91, for a total value of $8,577,776.48. Following the sale, the director owned 9,262,356 shares of the company’s stock, valued at approximately $369,660,627.96. This trade represents a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Price Performance

APG stock opened at $41.76 on Friday. The stock’s 50 day moving average is $41.28 and its two-hundred day moving average is $42.66. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99. The company has a market capitalization of $18.04 billion, a PE ratio of -62.32, a P/E/G ratio of 2.40 and a beta of 1.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.91.

APi Group (NYSE:APG) last released its earnings results on Thursday, July 30th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Analysts predict that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APi Group

A number of institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC acquired a new position in APi Group in the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its position in shares of APi Group by 14,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of APi Group by 146.7% in the 4th quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after purchasing an additional 297 shares during the period. Institutional investors own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APG. Barclays reiterated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Citigroup restated a “buy” rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. Wells Fargo & Company started coverage on APi Group in a report on Tuesday. They set an “overweight” rating and a $53.00 target price on the stock. UBS Group set a $52.00 target price on APi Group in a research report on Monday, July 20th. Finally, Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.57.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.