Applovin Corp’s filing revealed that its CEO & Chairperson Foroughi Arash Adam unloaded Company’s shares for reported $11.14 million on Sep 13 ’24. In the deal valued at $111.40 per share,100,000 shares were sold. As a result of this transaction, Foroughi Arash Adam now holds 3,885,217 shares worth roughly $571.13 million.
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Then, Foroughi Arash Adam sold 100,000 shares, generating $10,419,320 in total proceeds. Upon selling the shares at $104.19, the CEO & Chairperson now owns 3,985,217 shares.
Before that, Valenzuela Victoria sold 112,542 shares. Applovin Corp shares valued at $11,851,798 were divested by the CLO & Corp. Secretary at a price of $105.31 per share. As a result of the transaction, Valenzuela Victoria now holds 427,574 shares, worth roughly $62.85 million.
UBS upgraded its Applovin Corp [APP] rating to a Buy from a a Neutral in a research note published on September 17, 2024; the price target was increased to $145 from $100. Daiwa Securities began covering APP with “Neutral” recommendation on April 15, 2024. HSBC Securities started covering the stock on December 18, 2023. It rated APP as “a Buy”.
Price Performance Review of APP
On Friday, Applovin Corp [NASDAQ:APP] saw its stock jump 1.49% to $147.00. Over the last five days, the stock has gained 5.26%. Applovin Corp shares have risen nearly 268.88% since the year began. Nevertheless, the stocks have risen 264.95% over the past one year. While a 52-week high of $145.68 was reached on 10/11/24, a 52-week low of $34.45 was recorded on 01/04/24. SMA at 50 days reached $104.21, while 200 days put it at $76.67.
Levels Of Support And Resistance For APP Stock
The 24-hour chart illustrates a support level at 145.24, which if violated will result in even more drops to 143.47. On the upside, there is a resistance level at 148.18. A further resistance level may holdings at 149.36. The Relative Strength Index (RSI) on the 14-day chart is 87.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.23, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.73%. Stochastics %K at 96.03% 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 2024-09-30, growing by 5.35 million shares to a total of 20.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 15.25 million shares. There was a rise of 25.98%, which implies that there is a positive sentiment for the stock.
