In a recent filing with the Securities and Exchange Commission, AppLovin Corp (NASDAQ:APP) disclosed that Director Harvey Dawson Alyssa sold a total of 500 shares of the company's Class A common stock. The transactions, which occurred on December 6, 2024, were executed at prices ranging from $399.64 to $413.47 per share, amounting to a total value of $203,133. The sale comes amid AppLovin's remarkable 705% year-to-date stock price surge, with the company now commanding a market capitalization of $107.9 billion. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following these sales, Dawson Alyssa retains direct ownership of 6,684 shares in the company. These transactions were executed in multiple trades, with detailed pricing available upon request to the company or the SEC. InvestingPro data shows the company maintains a GREAT financial health score, with 18 additional premium insights available for subscribers seeking deeper analysis of AppLovin's market position and growth potential.
In other recent news, AppLovin Corp has experienced significant financial developments. The company issued $3.55 billion in senior notes and secured a new $1 billion unsecured revolving credit facility with JPMorgan Chase (NYSE:JPM), a move aimed at repaying existing senior secured term loan facilities due in 2028 and 2030. This follows a strong financial performance, with a 41.5% revenue growth over the past year.
Several financial firms, including Stifel and Piper Sandler, have maintained positive ratings and increased price targets for AppLovin. Oppenheimer also reiterated its Outperform rating and increased its price target to $480, viewing the recent decline in AppLovin's stock price as an attractive entry point for investors.
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.
These are among the recent developments within AppLovin, positioning the company as a promising growth entity in the eyes of several analysts. The company's future trajectory is anticipated to be positively influenced by its burgeoning e-commerce sector and the potential of its non-gaming business.
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