Advisors Asset Management Inc. Increases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Advisors Asset Management Inc. raised its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 56.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 390 shares of the software maker’s stock after acquiring an additional 141 shares during the period. Advisors Asset Management Inc.’s holdings in AppFolio were worth $92,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APPF. Comerica Bank increased its holdings in shares of AppFolio by 129.9% during the first quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after acquiring an additional 7,732 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in AppFolio during the 1st quarter valued at $235,000. GAMMA Investing LLC raised its position in AppFolio by 589.5% in the 2nd 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 last quarter. Harbor Capital Advisors Inc. grew its position in AppFolio by 9.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,374 shares of the software maker’s stock worth $825,000 after purchasing an additional 287 shares during the period. Finally, CWM LLC increased its position in 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 acquiring an additional 105 shares during the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Performance

Shares of AppFolio stock opened at $253.75 on Friday. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company has a market capitalization of $9.22 billion, a P/E ratio of 70.68 and a beta of 0.83. The company has a fifty day moving average of $224.84 and a 200 day moving average of $231.25.

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, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. Analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of AppFolio stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,577 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $250.75, for a total value of $646,182.75. Following the completion of the sale, the insider now owns 2,875 shares in the company, valued at $720,906.25. This represents a 47.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,461 shares of company stock valued at $5,766,272. 5.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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