Following these transactions, Chen holds 207,649 shares indirectly through The Chen Family 2012 Irrevocable Trust, where he and his spouse serve as trustees. The sales were executed in multiple trades, and the reported price reflects the weighted average sale price. Chen has committed to providing detailed information about the number of shares sold at each price upon request. AppLovin (NASDAQ:APP), now valued at over $107 billion, maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis and 20 additional ProTips for this high-growth tech company. AppLovin, now valued at over $107 billion, maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis and 20 additional ProTips for this high-growth tech company.
Following these transactions, Chen holds 207,649 shares indirectly through The Chen Family 2012 Irrevocable Trust, where he and his spouse serve as trustees. The sales were executed in multiple trades, and the reported price reflects the weighted average sale price. Chen has committed to providing detailed information about the number of shares sold at each price upon request.
In other recent news, AppLovin Corp has been under the spotlight with several financial firms maintaining positive ratings and revising their price targets upward. Oppenheimer reiterated its Outperform rating, viewing a recent 15% decline in AppLovin's stock as an attractive entry point for investors. Stifel raised its price target to $435, maintaining a "Buy" rating, while Piper Sandler kept an "Overweight" rating with a price target of $400. Loop Capital retained its "Buy" rating with a price target of $385.
These revisions follow AppLovin's impressive third-quarter results, which showed a 39% year-over-year increase in revenue, reaching $1.2 billion. The company has also issued $3.55 billion in senior notes and secured a new $1 billion unsecured revolving credit facility with JPMorgan Chase (NYSE:JPM), as part of a strategy to repay existing senior secured term loan facilities due in 2028 and 2030.
AppLovin's Q4 2024 revenue is projected to be 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, indicating strong confidence in the company's future trajectory.
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