DekaBank Deutsche Girozentrale Increases Stock Position in AppFolio, Inc. (NASDAQ:APPF)

DekaBank Deutsche Girozentrale grew its stake in AppFolio, Inc. (NASDAQ:APPF) by 58.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523 shares of the software maker’s stock after buying an additional 559 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AppFolio were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APPF. American International Group Inc. grew its position in AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after acquiring an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp bought a new position in shares of AppFolio during the 1st quarter valued at about $4,415,000. Oberndorf William E purchased a new position in shares of AppFolio during the 4th quarter valued at about $3,020,000. Nebula Research & Development LLC raised its holdings in shares of AppFolio by 554.5% during the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock valued at $1,566,000 after buying an additional 7,658 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after buying an additional 4,445 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 0.8 %

AppFolio stock opened at $233.79 on Friday. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market cap of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81. The firm has a 50-day moving average of $231.27 and a 200-day moving average of $233.17.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same period last year, the company earned ($0.53) EPS. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. Research analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on APPF shares. JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler lifted their target price on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, DA Davidson increased their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.75.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated 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 directly owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 of the company’s stock, valued at approximately $3,444,279.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,951 shares of company stock valued at $13,952,226. 9.15% of the stock is currently owned by company insiders.

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.