Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applovin Corp shares valued at $27,725,236 were sold by Vivas Eduardo on Jun 18 ’24. At $80.42 per share, Vivas Eduardo sold 344,763 shares. The insider’s holdings dropped to 7,760,370 shares worth approximately $624.55 million following the completion of this transaction.
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Also, Vivas Eduardo sold 10,860 shares, netting a total of over 873,331 in proceeds. Following the sale of shares at $80.42 each, the insider now holds 114,404 shares.
Before that, Vivas Eduardo had sold 250,000 shares from its account. In a trade valued at $19,534,972, the Director traded Applovin Corp shares for $78.14 each. Upon closing the transaction, the insider’s holdings decreased to 250,000 shares, worth approximately $652.3 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 drop of approximately -0.45%. Over the course of the year, Applovin Corp shares have jumped approximately 101.96%. Shares of the company reached a 52-week high of $88.50 on 05/09/24 and a 52-week low of $37.40 on 01/04/24. A 50-day SMA is recorded $78.13, while a 200-day SMA reached $55.14. Nevertheless, trading volume fell to 2.46 million shares from 3.5 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 79.49, which, if violated, would cause prices to drop to 78.51. In the upper region, resistance lies at 81.86. The next price resistance is at 83.24. RSI (Relative Strength Index) is 52.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 44.21%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
