Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $34.9 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 $26.81 million.
Analysts at Daiwa Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid April. As of December 18, 2023, HSBC Securities has initiated its “Buy” rating for APP. Earlier on August 22, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for APP stock which previously was a “a Hold”.
Analyzing APP Stock Performance
During the last five days, there has been a surge of approximately 6.11%. Over the course of the year, Applovin Corp shares have jumped approximately 85.70%. 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 $69.37, while a 200-day SMA reached $47.77. Nevertheless, trading volume fell to 6.04 million shares from 2.83 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 72.87, which, if violated, would cause prices to drop to 71.74. In the upper region, resistance lies at 75.88. The next price resistance is at 77.76. RSI (Relative Strength Index) is 54.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.03, which suggests the price will increase in the coming days. Percent R is at 33.81%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
