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In a series of transactions on February 24, Arash Adam Foroughi, CEO and Chairperson of AppLovin Corp (NASDAQ:APP), sold a substantial amount of the company’s Class A common stock. The transactions, detailed in a recent SEC filing, reveal that Foroughi disposed of shares totaling approximately $18.2 million. According to InvestingPro data, AppLovin has delivered an impressive 615% return over the past year, with the company currently valued at $139 billion.
The sales were executed at prices ranging from $398.56 to $424.75 per share. Following these transactions, Foroughi retains direct ownership of 2,869,492 shares of AppLovin’s Class A common stock. The stock has shown significant volatility recently, with InvestingPro analysis indicating the company is currently trading above its Fair Value.
AppLovin, headquartered in Palo Alto, California, is known for its software platform that provides app developers with tools to grow their mobile apps. The company’s stock transactions are closely watched by investors, given the significant role of its leadership in shaping its strategic direction. The company maintains strong financials with a perfect Piotroski Score of 9 and a robust current ratio of 2.19. InvestingPro subscribers have access to over 20 additional key insights and a comprehensive Pro Research Report for deeper analysis of APP’s market position and growth potential.
In other recent news, AppLovin Corp has been the subject of several notable developments. The company reported a robust financial performance in the fourth quarter of 2024, with revenues reaching $1.37 billion, surpassing the consensus estimate of $1.26 billion. Similarly, AppLovin’s AEBITDA came in at $848 million, exceeding expectations of $763 million, driven by a 73% year-over-year growth in advertising revenue. Analysts have responded positively to these results, with Benchmark increasing its price target to $525 and maintaining a Buy rating.
Additionally, UBS raised its price target to $630, citing strong gaming sector performance and impressive e-commerce adoption, with an estimated $50 million in fourth-quarter e-commerce revenue. Loop Capital also expressed optimism, lifting its price target to $650 and highlighting the company’s sustained market momentum. Meanwhile, Citi analysts raised their price target to $600, maintaining a Buy rating and expressing confidence in AppLovin’s future growth prospects.
However, the company has faced scrutiny from short seller Bear Cave, which raised concerns about the sustainability of AppLovin’s growth and the nature of its ad operations. Despite this, the company has not yet responded to these allegations. Investors will likely continue to monitor AppLovin’s ability to address these concerns while capitalizing on its current growth trajectory.
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