AQR Capital Management LLC Purchases 22,849 Shares of AppFolio, Inc. (NASDAQ:APPF)

AQR Capital Management LLC increased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 64.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,540 shares of the software maker’s stock after buying an additional 22,849 shares during the period. AQR Capital Management LLC owned 0.16% of AppFolio worth $14,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC grew its holdings in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the period. Covestor Ltd increased its position in AppFolio by 114.0% during the first quarter. Covestor Ltd now owns 550 shares of the software maker’s stock worth $136,000 after buying an additional 293 shares during the last quarter. Finally, RiverPark Advisors LLC raised its stake in AppFolio by 265.0% in the first quarter. RiverPark Advisors LLC now owns 668 shares of the software maker’s stock valued at $165,000 after buying an additional 485 shares during the period. 62.34% of the stock is owned by institutional investors.

Insider Activity at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now directly owns 9,383 shares in the company, valued at approximately $2,221,612.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $270.00, for a total value of $270,000.00. Following the sale, the insider now owns 403,000 shares of the company’s stock, valued at approximately $108,810,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. The disclosure for this sale can be found here. Insiders sold a total of 38,901 shares of company stock valued at $9,331,842 over the last quarter. 9.15% of the stock is owned by corporate insiders.

AppFolio Stock Down 1.4 %

Shares of AppFolio stock opened at $232.20 on Wednesday. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The company has a 50-day simple moving average of $226.49 and a two-hundred day simple moving average of $233.70. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 112.17 and a beta of 0.81.

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

Analysts Set New Price Targets

APPF has been the topic of a number of recent analyst reports. KeyCorp boosted their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price 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. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, DA Davidson raised their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.