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PALO ALTO, CA—Craig Billings, a director at AppLovin Corp (NASDAQ:APP), executed significant stock transactions on May 12, according to a recent SEC filing. Billings sold a substantial portion of his holdings, totaling approximately $4.24 million. The shares were sold at prices ranging from $352.89 to $354.50. The stock, currently trading at $376.54, has shown remarkable strength with a 351% return over the past year. According to InvestingPro analysis, AppLovin appears overvalued at current levels.
In addition to the sales, Billings exercised options to acquire 12,000 shares at prices between $25.55 and $27.03, with a total acquisition value of $311,040. Following these transactions, Billings holds 2,987 shares directly. The company maintains impressive gross profit margins of 77.7% and has demonstrated strong revenue growth of 41.6% in the latest reporting period.
These transactions highlight active trading by a key executive at AppLovin, a company known for its mobile technology platforms. With a market capitalization of $127.4 billion and robust financial health metrics, AppLovin presents an interesting case for investors. Discover 20+ additional exclusive insights and detailed analysis with InvestingPro’s comprehensive research report.
In other recent news, AppLovin Corp has reported significant developments that have caught the attention of various analyst firms. The company showcased strong first-quarter results, with UBS noting a double-digit quarter-over-quarter growth in gaming advertisement revenue and an increase in web-based advertisement revenue by an estimated $55 million. UBS has raised its price target for AppLovin to $475, maintaining a Buy rating, and revised its fiscal year 2026 EBITDA estimate to $6.1 billion. Benchmark analysts also maintained a Buy rating, setting a price target of $525, highlighting AppLovin’s robust advertising platform, which now constitutes nearly 80% of its revenue. Piper Sandler increased their price target to $455, citing AppLovin’s promising second-quarter guidance and the testing of a self-serve platform. Meanwhile, Oppenheimer adjusted its price target to $500, down from $560, but kept an Outperform rating, emphasizing the company’s resilience against macroeconomic challenges. Lastly, BTIG raised its price target to $471, praising the company’s first-quarter performance that exceeded expectations and expressing optimism about the self-serve platform’s potential. These recent developments illustrate a strong consensus among analysts regarding AppLovin’s growth trajectory and strategic initiatives.
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