American Century Companies Inc. Acquires 257 Shares of AppFolio, Inc. (NASDAQ:APPF)

American Century Companies Inc. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,631 shares of the software maker’s stock after purchasing an additional 257 shares during the period. American Century Companies Inc.’s holdings in AppFolio were worth $888,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of APPF. New Mexico Educational Retirement Board bought a new stake in shares of AppFolio during the 2nd quarter valued at about $1,027,000. Los Angeles Capital Management LLC grew its stake in shares of AppFolio by 516.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after purchasing an additional 92,034 shares during the period. Arizona State Retirement System grew its stake in shares of AppFolio by 8.0% during the 2nd quarter. Arizona State Retirement System now owns 5,784 shares of the software maker’s stock valued at $1,415,000 after purchasing an additional 430 shares during the period. TD Asset Management Inc grew its stake in shares of AppFolio by 48.1% during the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after purchasing an additional 2,600 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in shares of AppFolio by 185.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 2,839 shares of the software maker’s stock valued at $694,000 after purchasing an additional 1,844 shares during the period. 62.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp boosted their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Trading Down 1.4 %

NASDAQ APPF opened at $232.20 on Wednesday. The stock’s 50 day moving average is $226.49 and its 200 day moving average is $233.70. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The stock has a market cap of $8.41 billion, a PE ratio of 112.17 and a beta of 0.81.

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

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the sale, the insider now directly owns 27,568 shares of the company’s stock, valued at approximately $6,410,111.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the sale, the insider now directly owns 27,568 shares of the company’s stock, valued at approximately $6,410,111.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $260.00, for a total value of $260,000.00. Following the sale, the insider now directly owns 504,000 shares in the company, valued at $131,040,000. The disclosure for this sale can be found here. Insiders have sold 38,901 shares of company stock valued at $9,331,842 in the last ninety days. Corporate insiders own 9.15% of the company’s stock.

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.