AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 52.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 853 shares of the software maker’s stock after selling 946 shares during the quarter. Private Advisor Group LLC’s holdings in AppFolio were worth $201,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after acquiring an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of AppFolio by 16.7% during the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after acquiring an additional 32,633 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of AppFolio by 1.0% during the second quarter. Principal Financial Group Inc. now owns 153,134 shares of the software maker’s stock valued at $37,452,000 after acquiring an additional 1,488 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APPF. 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. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

AppFolio Stock Performance

Shares of AppFolio stock opened at $228.20 on Friday. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 63.57 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a 50 day moving average of $221.31 and a 200 day moving average of $230.89.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts forecast that AppFolio, Inc. will post 3.2 EPS for the current year.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Matthew S. Mazza sold 2,371 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the transaction, the insider now directly owns 39,980 shares in the company, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of the 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 sale, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock worth $4,053,818 over the last ninety days. Company insiders own 5.24% of the company’s stock.

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.