Following these transactions, Chen's direct ownership in AppLovin (NASDAQ:APP) stands at 621,209 shares. The sales were executed in multiple trades, with the weighted average sale prices reported in the filing. InvestingPro data shows the company maintains a "GREAT" financial health score, with 20+ additional insights available to subscribers, including detailed valuation metrics and growth forecasts. Interested investors can access the comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ US stocks. InvestingPro data shows the company maintains a "GREAT" financial health score, with 20+ additional insights available to subscribers, including detailed valuation metrics and growth forecasts. Interested investors can access the comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ US stocks.
Following these transactions, Chen's direct ownership in AppLovin stands at 621,209 shares. The sales were executed in multiple trades, with the weighted average sale prices reported in the filing.
In other recent news, AppLovin Corp has been making significant financial strides. The company has issued $3.55 billion in senior notes and secured a new $1 billion unsecured revolving credit facility with JPMorgan Chase (NYSE:JPM). These maneuvers are part of a strategy to repay existing senior secured term loan facilities due in 2028 and 2030, following a 41.5% revenue growth over the past year.
AppLovin's third-quarter results showcased a 39% year-over-year increase in revenue, reaching $1.2 billion. The company is transitioning to an all unsecured debt capital structure following investment grade ratings from S&P Global Ratings and Fitch Ratings. Projections for Q4 2024 revenue are between $1.24 billion and $1.26 billion, with adjusted EBITDA expectations of $740 million to $760 million.
Several financial firms have maintained positive ratings and increased price targets for AppLovin. Stifel has raised its price target to $435, maintaining a "Buy" rating. Piper Sandler has kept an "Overweight" rating with a price target of $400, while Loop Capital has retained its "Buy" rating with a price target of $385. Oppenheimer has significantly increased its price target to $480, maintaining an "Outperform" rating. These are among the recent developments within AppLovin.
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