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 $635.35 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 $69.92 million.
Wells Fargo initiated its Applovin Corp [APP] rating to an Overweight in a research note published on October 29, 2024; the price target was $200. A number of analysts have revised their coverage, including Loop Capital’s analysts, who began to cover the stock in late October with a ‘”a Buy”‘ rating. Goldman also remained covering APP and has decreased its forecast on October 14, 2024 with a “Neutral” recommendation from previously “Buy” rating. UBS revised its rating on September 17, 2024. It rated APP as “a Buy” which previously was an “a Neutral”.
Price Performance Review of APP
On Friday, Applovin Corp [NASDAQ:APP] saw its stock fall -3.46% to $163.53. Over the last five days, the stock has gained 1.18%. Applovin Corp shares have risen nearly 310.36% since the year began. Nevertheless, the stocks have risen 345.59% over the past one year. While a 52-week high of $174.46 was reached on 10/30/24, a 52-week low of $35.79 was recorded on 01/04/24. SMA at 50 days reached $127.68, while 200 days put it at $85.48.
Levels Of Support And Resistance For APP Stock
The 24-hour chart illustrates a support level at 160.64, which if violated will result in even more drops to 157.75. On the upside, there is a resistance level at 168.80. A further resistance level may holdings at 174.07. The Relative Strength Index (RSI) on the 14-day chart is 69.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.78, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 31.18%. Stochastics %K at 82.12% 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.
