AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning trimmed its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 34.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 912 shares of the software maker’s stock after selling 473 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in AppFolio were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APPF. Zeno Equity Partners LLP acquired a new position in AppFolio during the 4th quarter valued at about $30,000. USA Financial Formulas acquired a new position in AppFolio during the 4th quarter valued at about $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in AppFolio during the 4th quarter valued at about $64,000. Meeder Asset Management Inc. acquired a new stake in shares of AppFolio in the 4th quarter worth approximately $85,000. Finally, Headlands Technologies LLC acquired a new stake in shares of AppFolio in the 4th quarter worth approximately $85,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. KeyCorp upped their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.71.

AppFolio Price Performance

NASDAQ APPF opened at $249.97 on Thursday. The company’s 50 day simple moving average is $237.06 and its 200 day simple moving average is $221.17. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $256.73. The company has a market capitalization of $9.05 billion, a P/E ratio of 120.76 and a beta of 0.80.

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

Insider Activity

In other news, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total transaction of $2,936,742.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other AppFolio news, Director Timothy K. Bliss sold 12,170 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy K. Bliss sold 6,400 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $243.41, for a total transaction of $1,557,824.00. Following the completion of the transaction, the director now owns 4,354 shares in the company, valued at approximately $1,059,807.14. The disclosure for this sale can be found here. Insiders have sold 118,091 shares of company stock worth $27,953,693 over the last 90 days. 9.15% of the stock is owned by company insiders.

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.