AppLovin Corporation [APP] Chief Technology Officer makes an insider purchase of 22,500 shares worth 0.6 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AppLovin Corporation shares valued at $598,268 were sold by Shikin Vasily on Aug 24. At $26.59 per share, Shikin Vasily sold 22,500 shares. The insider’s holdings dropped to 2,644,535 shares worth approximately $55.91 million following the completion of this transaction.

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Also, Vivas Eduardo sold 88,822 shares, netting a total of over 2,865,182 in proceeds. Following the sale of shares at $32.26 each, the insider now holds 10,692,259 shares.

Before that, Vivas Eduardo had sold 3,328 shares from its account. In a trade valued at $119,446, the Director traded AppLovin Corporation shares for $35.89 each. Upon closing the transaction, the insider’s holdings decreased to 3,328 shares, worth approximately $1.71 million.

As published in their initiating research note from Wolfe Research on August 17, 2022, AppLovin Corporation [APP] has been an Outperform and the price target has been revised to $40. This represents a 47.15% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of May 12, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for APP. Earlier on May 10, 2022, BofA Securities resumed its rating. Their recommendation was “a Neutral” for APP stock.

Analyzing APP’s Price Performance

On Wednesday, AppLovin Corporation [NASDAQ: APP] plunged -2.94% to $21.14. The stock’s lowest price that day was $21.11, but it reached a high of $22.30 in the same session. During the last five days, there has been a drop of approximately -16.57%. Over the course of the year, AppLovin Corporation shares have dropped approximately -77.57%. Shares of the company reached a 52-week high of $98.14 on 01/03/22 and a 52-week low of $21.11 on 09/21/22. A 50-day SMA is recorded $30.41, while a 200-day SMA reached $49.72. Nevertheless, trading volume fell to 1.67 million shares from 1.7 million shares the previous day.

Support And Resistance Levels for AppLovin Corporation (APP)

According to the 24-hour chart, there is a support level at 20.73, which, if violated, would cause prices to drop to 20.33. In the upper region, resistance lies at 21.92. The next price resistance is at 22.71. RSI (Relative Strength Index) is 31.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.84, which suggests the price will decrease in the coming days. Percent R is at 99.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is AppLovin Corporation subject to short interest?

Stocks of AppLovin Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.12 million shares to 14.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.36 million shares. A jump of 21.55% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.82.

Which companies own the most shares of AppLovin Corporation (APP)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,922,699 shares, which is about 4.77% of the total APP shares outstanding. The investor’s shares have appreciated by 2,102,730 from its previous 13-F filing of 11819969.0 shares. With the completion of the sale transaction, Vulcan Value Partners LLC’s stake is now worth $186,912,169. BlackRock Fund Advisors acquire a 991.29% interest valued at $135.85 million while Spruce House Investment Managemen sold a -1,900,846 stake. A total of 246,313 shares of AppLovin Corporation were sold by Spyglass Capital Management LLC during the quarter, and -51,565 were sold by BlackRock Investment Management. In its current portfolio, SSgA Funds Management, Inc. holds 3,040,806 shares valued at $74.9 million.

In terms of AppLovin Corporation share price expectations, FactSet research, analysts set an average price target of $52.13 in the next 12 months, up nearly 129.57% from the previous closing price of $21.78. Analysts anticipate AppLovin Corporation stock to reach $80.00 by 2022, with the lowest price target being $21.00. In spite of this, 16 analysts ranked AppLovin Corporation stock as a Buy at the end of 2022. On April 19, 2022, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $68.


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