AppFolio, Inc. (NASDAQ:APPF) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 926 shares of the software maker’s stock after selling 46 shares during the quarter. HighTower Advisors LLC’s holdings in AppFolio were worth $213,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of APPF. Blue Trust Inc. grew its position in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the period. Quarry LP raised its position in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares in the last quarter. True Wealth Design LLC acquired a new position in AppFolio in the third quarter valued at approximately $79,000. Finally, Advisors Asset Management Inc. boosted its position in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, Director Scanlan Agnes Bundy sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. This trade represents a 8.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,768 shares of company stock valued at $5,744,891. 5.24% of the stock is owned by company insiders.

AppFolio Trading Up 1.5 %

APPF stock opened at $252.67 on Thursday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The business’s 50-day moving average is $236.53 and its 200 day moving average is $234.15. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 70.38 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. As a group, equities analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. KeyCorp cut their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler lowered their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $261.75.

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.