Wealth Enhancement Advisory Services LLC Buys Shares of 6,463 AppFolio, Inc. (NASDAQ:APPF)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,463 shares of the software maker’s stock, valued at approximately $1,521,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC raised its stake in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after buying an additional 120,835 shares during the period. Westwind Capital raised its stake in shares of AppFolio by 301.0% in the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock worth $26,866,000 after buying an additional 92,034 shares in the last quarter. Jackson Square Partners LLC purchased a new stake in AppFolio in the 1st quarter valued at $21,568,000. Finally, Vanguard Group Inc. grew its stake in shares of AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares in the last quarter. Institutional investors own 62.34% of the company’s stock.

AppFolio Stock Up 0.3 %

APPF opened at $208.52 on Monday. The business’s fifty day simple moving average is $222.26 and its 200 day simple moving average is $230.68. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market cap of $7.58 billion, a PE ratio of 58.08 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities analysts anticipate that AppFolio, Inc. will post 3.2 earnings per share for the current year.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 2,371 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares in the company, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the transaction, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 9,383 shares of the company’s stock, valued at $2,221,612.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,652 shares of company stock worth $4,053,818 in the last 90 days. Company insiders own 5.24% of the company’s stock.

Analyst Ratings Changes

APPF has been the topic of a number of research analyst reports. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler decreased their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. One investment 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, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

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.