Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Applovin Corp shares valued at $3,750,500 were sold by Valenzuela Victoria on Apr 04 ’24. At $75.01 per share, Valenzuela Victoria sold 50,000 shares. The insider’s holdings dropped to 471,560 shares worth approximately $36.0 million following the completion of this transaction.
Also, Chen Herald Y sold 150,000 shares, netting a total of over 9,456,604 in proceeds. Following the sale of shares at $63.04 each, the insider now holds 62,418 shares.
Before that, Stumpf Matthew had sold 2,775 shares from its account. In a trade valued at $175,658, the Chief Financial Officer (CFO) traded Applovin Corp shares for $63.30 each. Upon closing the transaction, the insider’s holdings decreased to 2,775 shares, worth approximately $27.66 million.
As published in their initiating research note from HSBC Securities on December 18, 2023, Applovin Corp [APP] has been a Buy and the price target has been revised to $53.20. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late August. As of July 24, 2023, BTIG Research has increased its “Neutral” rating to a “Buy” for APP. Earlier on May 17, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for APP stock which previously was a “a Neutral”.
Analyzing APP Stock Performance
During the last five days, there has been a surge of approximately 4.78%. Over the course of the year, Applovin Corp shares have jumped approximately 91.57%. Shares of the company reached a 52-week high of $79.55 on 04/09/24 and a 52-week low of $37.40 on 01/04/24. A 50-day SMA is recorded $60.64, while a 200-day SMA reached $43.26. Nevertheless, trading volume fell to 2.89 million shares from 3.91 million shares the previous day.
Support And Resistance Levels for Applovin Corp (APP)
According to the 24-hour chart, there is a support level at 74.60, which, if violated, would cause prices to drop to 72.85. In the upper region, resistance lies at 77.81. The next price resistance is at 79.27. RSI (Relative Strength Index) is 70.67 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.46, which suggests the price will increase in the coming days. Percent R is at 24.21%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Applovin Corp subject to short interest?
Stocks of Applovin Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 5.05 million shares to 22.12 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 17.07 million shares. A jump of 22.83% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.04.
