Quest Partners LLC Invests $632,000 in AppFolio, Inc. (NASDAQ:APPF)

Quest Partners LLC bought a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,685 shares of the software maker’s stock, valued at approximately $632,000.

A number of other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted its stake in shares of AppFolio by 200.8% in the 1st quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock valued at $356,000 after purchasing an additional 964 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after buying an additional 73,965 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of AppFolio by 11.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after buying an additional 4,131 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of AppFolio in the 1st quarter valued at $207,000. Finally, Advisors Asset Management Inc. boosted its stake in AppFolio by 291.3% during the first 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. Institutional investors own 62.34% of the company’s stock.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares in the company, valued at $4,393,309.96. This represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,865 shares of company stock valued at $5,799,618. Corporate insiders own 5.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APPF shares. KeyCorp reduced their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, 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 research report on Friday, July 26th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Trading Up 2.4 %

Shares of AppFolio stock opened at $242.39 on Friday. The company has a market capitalization of $8.81 billion, a P/E ratio of 67.52 and a beta of 0.83. The stock has a fifty day simple moving average of $222.54 and a 200 day simple moving average of $231.07. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) 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 firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. On average, analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.

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.