Harel Insurance Investments & Financial Services Ltd. Reduces Position 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 the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at $25,000. DT Investment Partners LLC bought a new stake in AppLovin during the third quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $29,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter worth about $34,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $363.10 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a market capitalization of $121.85 billion, a price-to-earnings ratio of 110.03, a PEG ratio of 2.96 and a beta of 2.29. The firm’s 50-day moving average is $337.41 and its 200 day moving average is $198.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Loop Capital raised their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Piper Sandler initiated coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $355.41.

Insider Transactions at AppLovin

In related news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by insiders.

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.