Amalgamated Bank Acquires 144 Shares of AppFolio, Inc. (NASDAQ:APPF)

Amalgamated Bank grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,945 shares of the software maker’s stock after purchasing an additional 144 shares during the quarter. Amalgamated Bank’s holdings in AppFolio were worth $2,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 112 shares during the period. CWM LLC boosted its position in shares of 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 acquiring an additional 105 shares during the period. Advisors Asset Management Inc. boosted its position in shares of 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 acquiring an additional 134 shares during the period. Covestor Ltd boosted its position in shares of 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 acquiring an additional 293 shares during the period. Finally, RiverPark Advisors LLC boosted its position in shares of 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 acquiring an additional 485 shares during the period. Institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APPF shares. Piper Sandler raised their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. KeyCorp lifted their target price on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. Finally, DA Davidson lifted their target price 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

Insiders Place Their Bets

In related news, major shareholder Maurice J. Duca sold 2,700 shares of AppFolio stock in a transaction on Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now directly owns 14,716 shares of the company’s stock, valued at $3,444,279.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Maurice J. Duca sold 2,700 shares of AppFolio stock in a transaction on Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now directly owns 14,716 shares of the company’s stock, valued at $3,444,279.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 5,200 shares of AppFolio stock in a transaction on Friday, June 28th. The stock was sold at an average price of $244.93, for a total transaction of $1,273,636.00. Following the completion of the transaction, the insider now directly owns 20,491 shares in the company, valued at $5,018,860.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,894 shares of company stock valued at $11,324,653. 9.15% of the stock is currently owned by corporate insiders.

AppFolio Stock Performance

APPF stock opened at $238.51 on Wednesday. The company has a market capitalization of $8.64 billion, a PE ratio of 115.22 and a beta of 0.81. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company’s 50 day moving average price is $229.63 and its two-hundred day moving average price is $233.34.

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

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.