SG Americas Securities LLC Cuts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

SG Americas Securities LLC cut its stake in AppFolio, Inc. (NASDAQ:APPF) by 62.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,471 shares of the software maker’s stock after selling 2,424 shares during the quarter. SG Americas Securities LLC’s holdings in AppFolio were worth $346,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. American International Group Inc. lifted its position in AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after buying an additional 26,815 shares during the last quarter. Texas Permanent School Fund Corp bought a new stake in AppFolio in the first quarter worth $4,415,000. Ameritas Investment Partners Inc. lifted its position in AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after buying an additional 4,445 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in AppFolio in the first quarter worth $839,000. Finally, Lazard Asset Management LLC lifted its position in AppFolio by 750.5% in the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after buying an additional 8,128 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the sale, the insider now directly owns 27,768 shares in the company, valued at $6,666,541.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $232.52, for a total value of $46,504.00. Following the transaction, the insider now owns 27,568 shares in the company, valued at $6,410,111.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the transaction, the insider now owns 27,768 shares in the company, valued at $6,666,541.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,941 shares of company stock worth $8,327,162 over the last three months. 9.15% of the stock is owned by corporate insiders.

AppFolio Trading Down 0.2 %

NASDAQ:APPF opened at $201.14 on Friday. The stock has a fifty day simple moving average of $225.36 and a 200-day simple moving average of $232.13. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 97.17 and a beta of 0.81. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. The firm had revenue of $197.38 million during the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.53) earnings per share. As a group, equities research analysts predict that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson raised their price target on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. KeyCorp lifted their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $272.13.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.