AppLovin (NASDAQ:APP) CEO Arash Adam Foroughi Sells 20,833 Shares of Stock

AppLovin Corporation (NASDAQ:APP) CEO Arash Adam Foroughi sold 20,833 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $503.91, for a total transaction of $10,497,957.03. Following the completion of the sale, the chief executive officer directly owned 2,962,184 shares of the company’s stock, valued at approximately $1,492,674,139.44. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 shares were sold at an average price of $476.30, for a total transaction of $4,107,611.20.
• On Friday, June 12th, Arash Adam Foroughi sold 19,123 shares of AppLovin stock. The shares were 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 shares were sold at an average price of $486.95, for a total transaction of $16,089,801.90.
• On Friday, June 12th, Arash Adam Foroughi sold 22,544 shares of AppLovin stock. The shares were sold at an average price of $494.98, for a total transaction of $11,158,829.12.

AppLovin Trading Up 3.8%

NASDAQ APP opened at $496.77 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $166.88 billion, a PE ratio of 42.68, a P/E/G ratio of 0.78 and a beta of 2.45. AppLovin Corporation has a one year low of $320.00 and a one year high of $745.61. The firm’s fifty day moving average is $482.88 and its two-hundred day moving average is $520.84.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. Analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.

Key AppLovin News

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 Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after acquiring an additional 166,117 shares during the period. State Street Corp grew its position in AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after buying an additional 52,377 shares during the period. Geode Capital Management LLC grew its position in AppLovin by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD grew its position in AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock worth $4,103,386,000 after buying an additional 212,349 shares during the period. Finally, Morgan Stanley grew its position in AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after buying an additional 538,806 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings lowered shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. KeyCorp set a $775.00 price objective on shares of AppLovin in a research note on Wednesday. BTIG Research restated a “buy” rating and issued a $640.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research note on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $560.00 to $571.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $669.62.

About AppLovin

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.