Key Points
- AppLovin CEO Arash Adam Foroughi sold 20,833 shares on June 10 at an average price of $503.91, totaling about $10.5 million. The sale reduced his ownership by 0.70%, and he later made additional large sales on June 11 and 12.
- AppLovin shares rose 3.8% to open at $496.77, while the company continued to show strong financial metrics, including a current ratio of 3.24 and a market cap of $166.88 billion.
- Recent earnings were strong: AppLovin reported Q1 EPS of $3.56 versus the $3.44 estimate and revenue of $1.84 billion, up 58.9% year over year. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and a target price of $669.62.
AppLovin Corporation (NASDAQ:APP - Get Free Report) CEO Arash Adam Foroughi sold 20,833 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $503.91, for a total transaction of $10,497,957.03. Following the transaction, the chief executive officer owned 2,962,184 shares in the company, valued at $1,492,674,139.44. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $494.98, for a total transaction of $11,158,829.12.
AppLovin Trading Up 3.8%
Shares of APP opened at $496.77 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. The firm's 50-day moving average is $482.88 and its two-hundred day moving average is $520.84. AppLovin Corporation has a twelve month low of $320.00 and a twelve month high of $745.61. The firm has a market capitalization of $166.88 billion, a P/E ratio of 42.68, a PEG ratio of 0.78 and a beta of 2.45.
AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The firm's revenue for the quarter was up 58.9% compared to the same quarter last year. On average, research analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.
AppLovin News Roundup
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
Wall Street Analyst Weigh In
Several analysts have issued reports on APP shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $700.00 price target on shares of AppLovin in a report on Thursday, May 28th. Oppenheimer reduced their price target on shares of AppLovin from $740.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Arete Research set a $340.00 price target on shares of AppLovin and gave the company a "neutral" rating in a report on Monday, March 2nd. Piper Sandler reaffirmed an "overweight" rating on shares of AppLovin in a report on Tuesday. Finally, Weiss Ratings downgraded shares of AppLovin from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $669.62.
Check Out Our Latest Report on APP
Hedge Funds Weigh In On AppLovin
Several institutional investors and hedge funds have recently modified their holdings of APP. Vanguard Group Inc. lifted its stake in shares of AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company's stock valued at $17,930,776,000 after buying an additional 7,051,663 shares during the period. State Street Corp lifted its stake in shares of AppLovin by 111.1% during the third quarter. State Street Corp now owns 11,852,466 shares of the company's stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Corient Private Wealth LLC lifted its stake in shares of AppLovin by 3,118.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company's stock valued at $2,826,049,000 after buying an additional 4,063,763 shares during the period. Norges Bank purchased a new position in shares of AppLovin during the fourth quarter valued at approximately $2,040,321,000. Finally, Capital Research Global Investors purchased a new position in shares of AppLovin during the third quarter valued at approximately $743,899,000. Hedge funds and other institutional investors own 41.85% of the company's stock.
About AppLovin
(
Get Free Report)
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.
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