Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applovin Corp shares valued at $33,503,979 were purchased by Jansen Katie Kihorany on Nov 12 ’24. At $279.75 per share, Jansen Katie Kihorany acquired 119,764 shares.
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Also, Foroughi Arash Adam sold 100,000 shares, netting a total of over 11,140,337 in proceeds. Following the sale of shares at $111.40 each, the insider now holds 3,885,217 shares.
Before that, Foroughi Arash Adam had sold 100,000 shares from its account. In a trade valued at $10,419,320, the CEO & Chairperson traded Applovin Corp shares for $104.19 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $1.13 billion.
As published in a research note from Daiwa Securities on November 08, 2024, Applovin Corp [APP] has been rated up from a Neutral to an Outperform and the price target has been revised to $280 from $80. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in late October. As of October 22, 2024, Loop Capital has initiated its “Buy” rating for APP. Earlier on October 14, 2024, Goldman downgraded its rating. Their new recommendation was “a Neutral” for APP stock which previously was a “a Buy”.
Analyzing APP Stock Performance
During the last five days, there has been a surge of approximately 68.47%. Over the course of the year, Applovin Corp shares have jumped approximately 612.57%. Shares of the company reached a 52-week high of $292.86 on 11/08/24 and a 52-week low of $37.40 on 01/04/24. A 50-day SMA is recorded $151.08, while a 200-day SMA reached $93.17. Nevertheless, trading volume fell to 4.69 million shares from 6.23 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 277.62, which, if violated, would cause prices to drop to 271.27. In the upper region, resistance lies at 290.88. The next price resistance is at 297.79. RSI (Relative Strength Index) is 87.02 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 79.80, which suggests the price will increase in the coming days. Percent R is at 6.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
