Dynamic Technology Lab Private Ltd Buys Shares of 1,780 AppFolio, Inc. (NASDAQ:APPF)

Dynamic Technology Lab Private Ltd purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,780 shares of the software maker’s stock, valued at approximately $419,000.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after buying an additional 28,673 shares during the period. Driehaus Capital Management LLC increased its stake in shares of AppFolio by 16.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after acquiring an additional 32,633 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of 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 acquiring an additional 120,835 shares during the period. Principal Financial Group Inc. boosted its position in shares of AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after acquiring an additional 24,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AppFolio by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 176,815 shares of the software maker’s stock valued at $41,622,000 after purchasing an additional 24,141 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on APPF. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Piper Sandler cut their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. KeyCorp lowered their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Stock Performance

AppFolio stock opened at $253.75 on Friday. The firm has a market capitalization of $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The stock’s 50 day moving average price is $225.24 and its 200 day moving average price is $231.28.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. On average, analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, major shareholder Maurice J. Duca sold 2,700 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now owns 14,716 shares in the company, valued at approximately $3,444,279.80. The trade was a 15.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,461 shares of company stock valued at $5,766,272 in the last ninety days. Insiders own 5.24% of the company’s stock.

About AppFolio

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.