Exchange Traded Concepts LLC Increases Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Exchange Traded Concepts LLC boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 59.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 602 shares of the software maker’s stock after acquiring an additional 224 shares during the period. Exchange Traded Concepts LLC’s holdings in AppFolio were worth $142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position 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 acquiring an additional 112 shares during the last quarter. CWM LLC raised its holdings 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 buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. raised its holdings 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 buying an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after buying an additional 142 shares during the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on APPF shares. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Keefe, Bruyette & Woods cut shares of 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. JPMorgan Chase & Co. upped 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. DA Davidson boosted their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp boosted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $272.13.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Matthew S. Mazza sold 2,371 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the sale, the insider now directly owns 39,980 shares in the company, valued at $8,844,375.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,479 shares of company stock worth $6,891,732. 9.15% of the stock is owned by company insiders.

AppFolio Trading Down 1.1 %

Shares of APPF opened at $198.43 on Wednesday. The firm’s 50-day moving average is $225.11 and its two-hundred day moving average is $231.88. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The firm has a market capitalization of $7.19 billion, a P/E ratio of 95.86 and a beta of 0.81.

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

AppFolio Company 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.