Applovin Corp’s filing revealed that its President & CFO Chen Herald Y unloaded Company’s shares for reported $9.46 million on Mar 14 ’24. In the deal valued at $63.04 per share,150,000 shares were sold. As a result of this transaction, Chen Herald Y now holds 62,418 shares worth roughly $4.67 million.
Then, Stumpf Matthew sold 2,775 shares, generating $175,658 in total proceeds. Upon selling the shares at $63.30, the Chief Financial Officer (CFO) now owns 362,264 shares.
Before that, Vivas Eduardo sold 1,268 shares. Applovin Corp shares valued at $77,281 were divested by the Director at a price of $60.95 per share. As a result of the transaction, Vivas Eduardo now holds 8,351,954 shares, worth roughly $624.64 million.
HSBC Securities initiated its Applovin Corp [APP] rating to a Buy in a research note published on December 18, 2023; the price target was $53.20. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in late August from “a Hold” to “a Buy”. BTIG Research also remained covering APP and has increased its forecast on July 24, 2023 with a “Buy” recommendation from previously “Neutral” rating. BofA Securities revised its rating on May 17, 2023. It rated APP as “a Buy” which previously was an “a Neutral”.
Price Performance Review of APP
On Friday, Applovin Corp [NASDAQ:APP] saw its stock jump 2.77% to $74.79. Over the last five days, the stock has gained 8.05%. Applovin Corp shares have risen nearly 87.69% since the year began. Nevertheless, the stocks have risen 356.07% over the past one year. While a 52-week high of $75.83 was reached on 04/05/24, a 52-week low of $15.25 was recorded on 01/04/24. SMA at 50 days reached $58.73, while 200 days put it at $42.46. A total of 4.15 million shares were traded, compared to the trading of 7.32 million shares in the previous session.
Levels Of Support And Resistance For APP Stock
The 24-hour chart illustrates a support level at 71.80, which if violated will result in even more drops to 68.81. On the upside, there is a resistance level at 76.82. A further resistance level may holdings at 78.84. The Relative Strength Index (RSI) on the 14-day chart is 72.56, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.61%. Stochastics %K at 85.17% indicates the stock is a selling.
How much short interest is there in Applovin Corp?
A steep rise in short interest was recorded in Applovin Corp stocks on Mar 15, 2024, growing by 5.05 million shares to a total of 22.12 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 17.07 million shares. There was a rise of 22.83%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.08% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.04.
