Advisors Asset Management Inc. Increases Position in AppFolio, Inc. (NASDAQ:APPF)

Advisors Asset Management Inc. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 56.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390 shares of the software maker’s stock after acquiring an additional 141 shares during the period. Advisors Asset Management Inc.’s holdings in AppFolio were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in AppFolio by 85.7% in the third 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 last quarter. GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the period. CWM LLC boosted its holdings in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in AppFolio by 688.9% during 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 period. Finally, Quarry LP increased its holdings in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $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 Analysts Forecast Growth

A number of research firms have weighed in on APPF. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp dropped their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.75.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 2,577 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now directly owns 2,875 shares of the company’s stock, valued at $720,906.25. This trade represents a 47.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,461 shares of company stock worth $5,766,272 over the last ninety days. 5.24% of the stock is owned by corporate insiders.

AppFolio Price Performance

NASDAQ:APPF opened at $253.75 on Friday. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The stock’s fifty day moving average price is $224.84 and its two-hundred day moving average price is $231.25. The company has a market cap of $9.22 billion, a P/E ratio of 70.68 and a beta of 0.83.

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