Manchester Global Management UK Ltd Has $20.44 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Manchester Global Management UK Ltd boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 83.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,589 shares of the software maker’s stock after purchasing an additional 38,000 shares during the quarter. AppFolio comprises approximately 3.6% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 16th largest holding. Manchester Global Management UK Ltd owned about 0.23% of AppFolio worth $20,443,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. American International Group Inc. grew its position in AppFolio by 280.7% in the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after purchasing an additional 26,815 shares during the period. Texas Permanent School Fund Corp purchased a new position in AppFolio during the 1st quarter worth $4,415,000. Oberndorf William E purchased a new position in AppFolio during the 4th quarter worth $3,020,000. Nebula Research & Development LLC boosted its holdings in AppFolio by 554.5% during the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after acquiring an additional 7,658 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in AppFolio by 223.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after acquiring an additional 4,445 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APPF. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Piper Sandler lifted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. DA Davidson boosted their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, KeyCorp boosted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total value of $766,700.10. Following the completion of the sale, the insider now owns 31,643 shares of the company’s stock, valued at $7,569,638.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AppFolio news, Director Blottnitz Andreas Von sold 5,111 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $240.24, for a total value of $1,227,866.64. Following the completion of the sale, the director now owns 8,838 shares of the company’s stock, valued at $2,123,241.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total value of $766,700.10. Following the completion of the sale, the insider now directly owns 31,643 shares of the company’s stock, valued at approximately $7,569,638.46. The disclosure for this sale can be found here. Insiders sold a total of 55,210 shares of company stock valued at $13,319,219 over the last quarter. 9.15% of the stock is owned by corporate insiders.

AppFolio Trading Up 1.0 %

APPF stock opened at $236.19 on Tuesday. The company’s 50 day moving average is $230.15 and its 200 day moving average is $233.26. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 114.10 and a beta of 0.81. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

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

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.