Brighton Jones LLC Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Brighton Jones LLC raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,805 shares of the software maker’s stock after buying an additional 49 shares during the period. Brighton Jones LLC’s holdings in AppFolio were worth $1,420,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares in the last quarter. CWM LLC increased its holdings in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in AppFolio in the fourth quarter valued at about $64,000. Finally, Covestor Ltd increased its holdings in AppFolio by 114.0% in the first quarter. Covestor Ltd now owns 550 shares of the software maker’s stock valued at $136,000 after buying an additional 293 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $233.79 on Friday. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm’s 50 day moving average price is $230.66 and its 200 day moving average price is $233.13. The firm has a market cap of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81.

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

Wall Street Analyst Weigh In

APPF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. DA Davidson increased their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler increased their price target on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 2,741 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $230.94, for a total transaction of $633,006.54. Following the sale, the insider now owns 37,904 shares in the company, valued at $8,753,549.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AppFolio news, major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $234.05, for a total transaction of $631,935.00. Following the transaction, the insider now owns 14,716 shares of the company’s stock, valued at $3,444,279.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,741 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $230.94, for a total transaction of $633,006.54. Following the transaction, the insider now directly owns 37,904 shares in the company, valued at approximately $8,753,549.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,951 shares of company stock worth $13,952,226. 9.15% of the stock is owned by insiders.

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.