Squarepoint Ops LLC Grows Holdings in AppFolio, Inc. (NASDAQ:APPF)

Squarepoint Ops LLC raised its position in AppFolio, Inc. (NASDAQ:APPF) by 188.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,034 shares of the software maker’s stock after buying an additional 120,835 shares during the period. Squarepoint Ops LLC owned approximately 0.51% of AppFolio worth $45,254,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares in the last quarter. CWM LLC boosted its stake in AppFolio by 238.6% during the 2nd 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 last quarter. Advisors Asset Management Inc. grew its holdings in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Covestor Ltd increased its position in shares of AppFolio by 114.0% in the 1st quarter. Covestor Ltd now owns 550 shares of the software maker’s stock worth $136,000 after purchasing an additional 293 shares during the last quarter. Finally, RiverPark Advisors LLC raised its stake in shares of AppFolio by 265.0% in the 1st quarter. RiverPark Advisors LLC now owns 668 shares of the software maker’s stock valued at $165,000 after purchasing an additional 485 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares in the company, valued at approximately $17,890,447.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the sale, the insider now directly owns 9,383 shares in the company, valued at approximately $2,221,612.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The disclosure for this sale can be found here. Insiders sold 50,032 shares of company stock valued at $12,065,684 in the last three months. 9.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APPF has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp lifted their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Finally, Piper Sandler boosted their target price on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Price Performance

NASDAQ:APPF opened at $234.14 on Thursday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The firm has a market capitalization of $8.49 billion, a P/E ratio of 113.11 and a beta of 0.81. The business has a 50 day simple moving average of $229.05 and a 200 day simple moving average of $233.35.

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