Curbstone Financial Management Corp Acquires 280 Shares of AppFolio, Inc. (NASDAQ:APPF)

Curbstone Financial Management Corp lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 10.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,840 shares of the software maker’s stock after acquiring an additional 280 shares during the period. Curbstone Financial Management Corp’s holdings in AppFolio were worth $669,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APPF. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 112 shares during the period. CWM LLC lifted its holdings in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of 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 during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the period. Finally, Quarry LP lifted its holdings in AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after purchasing an additional 142 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APPF has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target 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 lifted their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. KeyCorp raised their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $227.00 on Friday. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company has a 50 day moving average of $225.90 and a 200-day moving average of $233.65. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 109.66 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS 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 during the quarter, compared to analysts’ expectations of $190.57 million. During the same quarter in the previous year, the company earned ($0.53) EPS. AppFolio’s revenue was up 34.2% on a year-over-year basis. Equities research analysts anticipate that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the business’s 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 in the company, valued at $17,890,447.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Maurice J. Duca sold 1,296 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the business’s 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 transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,817 shares of company stock worth $8,808,633. 9.15% of the stock is currently owned by company insiders.

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.