Assenagon Asset Management S.A. Acquires 5,985 Shares of AppFolio, Inc. (NASDAQ:APPF)

Assenagon Asset Management S.A. lifted its stake in AppFolio, Inc. (NASDAQ:APPF) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,007 shares of the software maker’s stock after purchasing an additional 5,985 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of AppFolio worth $12,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in APPF. Lord Abbett & CO. LLC boosted its holdings in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Squarepoint Ops LLC boosted its stake in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares in the last quarter. FMR LLC increased its stake in AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after purchasing an additional 55,348 shares in the last quarter. Franklin Resources Inc. raised its holdings in AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of AppFolio in the second quarter worth approximately $12,993,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler downgraded AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target on the stock. in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $261.88.

Insider Activity

In other news, Director Scanlan Agnes Bundy sold 500 shares of AppFolio 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 transaction, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. The trade was a 8.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock valued at $5,744,891 in the last 90 days. Company insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

APPF stock opened at $251.92 on Friday. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87. The business’s 50-day moving average is $249.85 and its two-hundred day moving average is $235.68. AppFolio, Inc. has a fifty-two week low of $172.98 and a fifty-two week high of $274.56.

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 firm had revenue of $206.00 million for 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 business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. Equities analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current 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.