Harel Insurance Investments & Financial Services Ltd. Cuts Stock Holdings in AppLovin Co. (NASDAQ:APP)

Harel Insurance Investments & Financial Services Ltd. reduced its stake in AppLovin Co. (NASDAQ:APP) by 98.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 864 shares of the company’s stock after selling 49,790 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in AppLovin were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. National Bank of Canada FI boosted its holdings in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Versant Capital Management Inc raised its position in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the period. Avior Wealth Management LLC grew its position in shares of AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after buying an additional 76 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Up 0.2 %

Shares of NASDAQ APP opened at $363.10 on Friday. The firm’s 50 day moving average price is $337.41 and its 200-day moving average price is $198.41. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $121.85 billion, a PE ratio of 110.03, a P/E/G ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on APP shares. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.