nVerses Capital LLC Cuts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

nVerses Capital LLC cut its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,300 shares of the software maker’s stock after selling 200 shares during the period. nVerses Capital LLC’s holdings in AppFolio were worth $306,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of AppFolio by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock worth $1,420,000 after buying an additional 49 shares during the period. ProShare Advisors LLC raised its position in AppFolio by 2.9% during the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after acquiring an additional 102 shares during the period. CWM LLC raised its position in AppFolio by 238.6% during the second 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. GAMMA Investing LLC lifted its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on APPF shares. DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a report on Tuesday. Finally, Piper Sandler increased their target price on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $272.13.

AppFolio Trading Down 0.2 %

Shares of APPF opened at $201.14 on Friday. 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 $7.28 billion, a P/E ratio of 97.17 and a beta of 0.81. The firm has a 50-day moving average price of $225.36 and a 200 day moving average price of $232.13.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million during 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 business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.53) EPS. Equities research analysts predict that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In related 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 value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the sale, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 11,627 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the sale, the insider now directly owns 27,768 shares in the company, valued at approximately $6,666,541.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,941 shares of company stock worth $8,327,162. 9.15% of the stock is currently owned by company insiders.

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.