Applovin Corp’s recent filing unveils 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 $627.97 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 $69.11 million.
Loop Capital initiated its Applovin Corp [APP] rating to a Buy in a research note published on October 22, 2024; the price target was $181. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in mid October from “a Buy” to “a Neutral”. UBS also remained covering APP and has increased its forecast on September 17, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of APP
On Friday, Applovin Corp [NASDAQ:APP] saw its stock jump 1.65% to $161.63. Over the last five days, the stock has gained 11.30%. Applovin Corp shares have risen nearly 305.60% since the year began. Nevertheless, the stocks have risen 347.11% over the past one year. While a 52-week high of $165.38 was reached on 10/23/24, a 52-week low of $34.45 was recorded on 01/04/24. SMA at 50 days reached $119.59, while 200 days put it at $82.30.
Levels Of Support And Resistance For APP Stock
The 24-hour chart illustrates a support level at 159.64, which if violated will result in even more drops to 157.66. On the upside, there is a resistance level at 163.88. A further resistance level may holdings at 166.14. The Relative Strength Index (RSI) on the 14-day chart is 84.74, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 10.10, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.43%. Stochastics %K at 80.97% 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 2024-10-15, growing by 4.6 million shares to a total of 21.88 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 17.28 million shares. There was a rise of 21.03%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 15, 2024 when Daiwa Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $80 price target.
