Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 25.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,660 shares of the software maker’s stock after selling 1,616 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AppFolio were worth $1,097,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after buying an additional 28,673 shares during the period. Driehaus Capital Management LLC lifted its stake in AppFolio by 16.7% in the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after acquiring an additional 32,633 shares during the period. Squarepoint Ops LLC increased its position in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares during the period. Principal Financial Group Inc. raised its holdings in AppFolio by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after purchasing an additional 24,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AppFolio by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 176,815 shares of the software maker’s stock worth $41,622,000 after purchasing an additional 24,141 shares during the period. 62.34% of the stock is owned by institutional investors.

AppFolio Trading Up 0.4 %

AppFolio stock opened at $269.26 on Friday. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 75.00 and a beta of 0.86. The business’s fifty day simple moving average is $227.44 and its two-hundred day simple moving average is $231.76.

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

Insider Activity at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,700 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the transaction, the insider now owns 14,716 shares in the company, valued at $3,444,279.80. The trade was a 15.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 926 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the sale, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,961 shares of company stock valued at $5,893,982. 5.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on APPF. KeyCorp reduced their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.75.

AppFolio 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.