AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 17.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,142 shares of the software maker’s stock after buying an additional 320 shares during the period. Verdence Capital Advisors LLC’s holdings in AppFolio were worth $504,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Blue Trust Inc. boosted its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the period. CWM LLC grew its holdings in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,968 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the sale, the insider now owns 24,500 shares of the company’s stock, valued at $5,754,315. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock worth $4,053,818 in the last quarter. Corporate insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

APPF opened at $233.47 on Tuesday. The company has a fifty day moving average of $221.34 and a two-hundred day moving average of $231.19. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 65.03 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Piper Sandler cut their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, KeyCorp decreased their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One 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 presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

About AppFolio

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.