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

AppLovin Co. (NASDAQ:APP) CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $410.89, for a total value 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 value of $597,309.64.

AppLovin Trading Down 12.2 %

APP opened at $331.00 on Thursday. AppLovin Co. has a one year low of $57.40 and a one year high of $525.15. The company has a market cap of $111.08 billion, a P/E ratio of 72.91, a PEG ratio of 3.02 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50-day simple moving average is $368.06 and its 200-day simple moving average is $250.75.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APP shares. The Goldman Sachs Group increased their target price on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Bank of America increased their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $442.18.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APP. FMR LLC increased its holdings in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of AppLovin in the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. boosted its position in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Norges Bank acquired a new stake in shares of AppLovin in the 4th quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.