AppLovin CTO Shikin Vasily sells $4.2 million in stock

Shikin Vasily, the Chief Technology Officer of AppLovin Corp (NASDAQ:APP), recently sold shares worth approximately $4.2 million in a series of transactions. The company, currently valued at $92.3 billion, has seen its stock surge over 346% in the past year, though it experienced a 14% decline last week. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. The sales, which took place on March 10, involved a total of 16,778 shares of Class A Common Stock. The shares were sold at prices ranging from $235.49 to $254.76 per share.

Following these transactions, Vasily retains ownership of 88,389 shares. The sales were conducted under a pre-arranged trading plan established on December 9, 2024, as noted in the filing. The shares are held indirectly for the benefit of Vasily’s immediate family members through IK50 Holdings Trust.

In other recent news, AppLovin Corp has been in the spotlight with several noteworthy developments. The company reported a 44% increase in overall fourth-quarter revenue, reaching nearly $1.4 billion, although its app revenue saw a slight decline of 1% to just over $376 million. AppLovin is reportedly nearing a $900 million deal to sell its games unit to Tripledot Studios, a move that aligns with its strategy to focus more on advertising rather than game development. Additionally, Bank of America Securities maintained a Buy rating on AppLovin, highlighting a projected EBITDA compound annual growth rate of over 50% over the next two years.

Benchmark has added AppLovin to its Top Ideas List, citing growth catalysts such as AI-enhanced targeting and the expansion of e-commerce advertising. The firm also noted the company’s buyback program as a potential driver for earnings per share growth. In a strategic move, AppLovin announced a $500 million share buyback plan to counteract negative sentiment from recent short seller reports. This decision underscores the company’s confidence in its financial health and aims to enhance shareholder value. These developments reflect AppLovin’s efforts to reassure investors and highlight its growth potential amidst market volatility.

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