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

Brighton Jones LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,805 shares of the software maker’s stock after acquiring an additional 49 shares during the period. Brighton Jones LLC’s holdings in AppFolio were worth $1,420,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. American International Group Inc. raised its stake in shares of AppFolio by 280.7% in the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after acquiring an additional 26,815 shares during the period. Texas Permanent School Fund Corp purchased a new position in shares of AppFolio in the 1st quarter valued at $4,415,000. Oberndorf William E purchased a new position in shares of AppFolio in the 4th quarter valued at $3,020,000. Nebula Research & Development LLC raised its stake in shares of AppFolio by 554.5% in the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock valued at $1,566,000 after acquiring an additional 7,658 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in shares of AppFolio by 223.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after acquiring an additional 4,445 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Price Performance

Shares of APPF stock opened at $233.79 on Friday. The firm has a market cap of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a fifty day moving average of $230.66 and a two-hundred day moving average of $233.13.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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. The company had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS. On average, sell-side analysts expect that AppFolio, Inc. will post 3.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APPF shares. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. DA Davidson lifted 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. JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, KeyCorp lifted 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $277.75.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 2,700 shares of AppFolio stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the transaction, the insider now directly owns 14,716 shares of the company’s stock, valued at approximately $3,444,279.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Maurice J. Duca sold 2,700 shares of AppFolio stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the transaction, the insider now directly owns 14,716 shares of the company’s stock, valued at approximately $3,444,279.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 2,741 shares of AppFolio stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $230.94, for a total transaction of $633,006.54. Following the completion of the transaction, the insider now directly owns 37,904 shares of the company’s stock, valued at $8,753,549.76. The disclosure for this sale can be found here. In the last three months, insiders sold 57,951 shares of company stock valued at $13,952,226. Company insiders own 9.15% of the company’s stock.

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.