NBC Securities Inc. Cuts Position in AppFolio, Inc. (NASDAQ:APPF)

NBC Securities Inc. lessened its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,703 shares of the software maker’s stock after selling 176 shares during the quarter. NBC Securities Inc.’s holdings in AppFolio were worth $666,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after buying an additional 76,934 shares in the last quarter. Fred Alger Management LLC grew its holdings in AppFolio by 12.2% during the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock valued at $104,466,000 after buying an additional 62,347 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in AppFolio by 3.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after buying an additional 15,283 shares in the last quarter. Norges Bank purchased a new position in AppFolio during the 4th quarter valued at approximately $38,458,000. Finally, Northern Trust Corp grew its holdings in AppFolio by 1.1% during the 3rd quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock valued at $36,955,000 after buying an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Up 0.7 %

Shares of NASDAQ APPF opened at $231.76 on Thursday. The business has a fifty day simple moving average of $232.17 and a two-hundred day simple moving average of $217.24. The firm has a market cap of $8.39 billion, a PE ratio of 111.96 and a beta of 0.80. AppFolio, Inc. has a twelve month low of $162.32 and a twelve month high of $256.73.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. The firm had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. On average, research analysts expect that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,600 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $229.65, for a total value of $597,090.00. Following the completion of the transaction, the insider now directly owns 52,400 shares of the company’s stock, valued at approximately $12,033,660. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Maurice J. Duca sold 2,600 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $229.65, for a total transaction of $597,090.00. Following the transaction, the insider now directly owns 52,400 shares of the company’s stock, valued at approximately $12,033,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $249.46, for a total value of $531,599.26. Following the completion of the sale, the insider now owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The disclosure for this sale can be found here. In the last three months, insiders sold 94,631 shares of company stock valued at $22,354,915. Corporate insiders own 9.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APPF. Piper Sandler began coverage on AppFolio in a report on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective for the company. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Keefe, Bruyette & Woods boosted their price objective on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, KeyCorp boosted their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.