APi Group (NYSE:APG) Director Ian Ashken Sells 214,928 Shares

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 214,928 shares of APi Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.91, for a total value of $8,577,776.48. Following the completion of the transaction, the director owned 9,262,356 shares of the company’s stock, valued at approximately $369,660,627.96. This represents a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Price Performance

APG stock traded up $0.29 during mid-day trading on Wednesday, reaching $41.83. 2,136,496 shares of the company’s stock were exchanged, compared to its average volume of 2,886,400. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The stock’s 50 day moving average is $41.26 and its 200 day moving average is $42.68. The company has a market cap of $18.08 billion, a price-to-earnings ratio of -62.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.60.

APi Group (NYSE:APG) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, research analysts expect that APi Group Corporation will post 1.72 EPS for the current year.

Institutional Investors Weigh In On APi Group

A number of large investors have recently made changes to their positions in the stock. Sound Income Strategies LLC acquired a new stake in shares of APi Group in the fourth quarter valued at approximately $27,000. Silicon Valley Capital Partners boosted its stake in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after buying an additional 286 shares during the last quarter. Parallel Advisors LLC grew its holdings in APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in APi Group by 1,851.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after acquiring an additional 736 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APG has been the subject of several research analyst reports. Citigroup restated a “buy” rating and set a $54.00 price target (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Barclays restated an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Wall Street Zen cut APi Group from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial set a $55.00 price objective on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $47.00 price objective on APi Group in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $52.57.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.