AppLovin Corp ( APP ) shares are trading lower Thursday. The decline follows a period of intense volatility and a significant insider transaction.

Insider Unloads $74 Million

According to Benzinga insider trading activity tracker, Director Eduardo Vivas executed a major sell. Vivas sold 163,910 shares on March 16. The transaction occurred at an average price of $453.49 per share. This move represents a $74.33 million exit. Vivas has served on the board since 2018. His remaining stake now sits at 6.97 million shares.

Broader Tech Sector Weakness

APP is also feeling the heat from a wider market retreat. The Nasdaq Composite fell 0.68% during Thursday’s session. Meanwhile, the S&P 500 shed 0.55%.

Moving Past Recent Controversy

This pullback follows a February surge. That rally began after CapitalWatch issued a public apology. The firm retracted a report linking shareholder Hao Tang to criminal groups. CapitalWatch admitted its previous assertions “were inaccurate and failed to meet our publication standards.”

Technical Analysis

Applovin ( APP ) is trading 5.2% below its 20-day simple moving average (SMA) and 24.3% below its 100-day SMA, keeping the intermediate trend pointed lower even after prior rebounds.

Shares are up 43.64% over the past 12 months, but the stock is currently positioned closer to its 52-week lows than highs after pulling back from the $745.61 peak.

Momentum gauges are no longer deeply washed out: RSI is at 45.58, which sits in neutral territory. MACD is at -4.4118 versus a signal line of -6.9179.

Key Resistance: $473.50

Key Support: $366.50

APP Stock Price Activity: AppLovin ( APP ) shares were down 4.72% at $421.69 at the time of publication on Thursday, according to Benzinga Pro data.