Fmr LLC Boosts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Fmr LLC boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 998.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,894 shares of the software maker’s stock after acquiring an additional 55,348 shares during the period. Fmr LLC’s holdings in AppFolio were worth $14,334,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments purchased a new position in AppFolio during the third quarter valued at $759,000. Gladius Capital Management LP purchased a new position in AppFolio during the second quarter valued at $1,054,000. Baker Avenue Asset Management LP grew its stake in AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares in the last quarter. TD Asset Management Inc grew its stake in AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the sale, the chief executive officer now owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 926 shares of AppFolio stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,106 shares of company stock worth $6,985,443. 5.24% of the stock is currently owned by insiders.

AppFolio Trading Up 0.3 %

AppFolio stock opened at $256.61 on Wednesday. The firm has a 50-day moving average price of $228.90 and a 200-day moving average price of $232.15. The firm has a market capitalization of $9.32 billion, a PE ratio of 71.48 and a beta of 0.86. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last released 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. The firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.