Alyssa Harvey Dawson, a director at AppLovin Corp (NASDAQ:APP), recently sold a significant portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Dawson sold a total of 3,000 shares of Class A Common Stock on November 27, 2024. The shares were sold at prices ranging from $318.23 to $328.73, resulting in total proceeds of approximately $977,282. The sale comes as AppLovin's stock trades near its 52-week high of $344.77, having delivered an impressive 745% return year-to-date.
Following these transactions, Dawson's direct ownership of AppLovin's Class A Common Stock stands at 7,359 shares. The transactions were executed in multiple trades, with specific price ranges detailed in the filing.
AppLovin, a technology company based in Palo Alto, California, continues to be an influential player in the mobile app ecosystem, and these transactions may attract the attention of investors monitoring insider activities.
In other recent news, AppLovin Corp has reported a series of significant developments. The company's third-quarter results showed a 39% year-over-year increase in revenue, reaching $1.2 billion. Piper Sandler and Loop Capital maintained their positive ratings on AppLovin, with Piper Sandler emphasizing potential improvements in the company's business model, and Loop Capital highlighting the potential of AppLovin's advertising solutions. The company has also announced plans to offer senior notes to repay existing senior secured term loan facilities due in 2028 and 2030, with J.P. Morgan Securities LLC, BofA Securities, Inc., and Morgan Stanley & Co (NYSE:MS). LLC as the joint book-running managers. The transition to an all unsecured debt capital structure follows the acquisition of investment grade ratings from S&P Global Ratings and Fitch Ratings. AppLovin's Q4 2024 revenue is projected to be between $1.24 billion and $1.26 billion, with adjusted EBITDA expectations of $740 million to $760 million, according to recent analyst notes.
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