Janus Henderson Group PLC Boosts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Janus Henderson Group PLC lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,353 shares of the software maker’s stock after purchasing an additional 215 shares during the period. Janus Henderson Group PLC’s holdings in AppFolio were worth $2,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings 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 raised its position in shares of AppFolio by 16.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after acquiring an additional 32,633 shares in the last quarter. Squarepoint Ops LLC lifted its stake 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 purchasing an additional 120,835 shares during the last quarter. Principal Financial Group Inc. boosted its position in AppFolio by 16.1% during the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after purchasing an additional 24,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 last quarter. 85.19% of the stock is currently owned by institutional investors.

AppFolio Price Performance

NASDAQ APPF opened at $263.55 on Friday. The stock’s fifty day moving average price is $230.30 and its 200 day moving average price is $232.57. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 73.41 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for 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 quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. Research analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares in the company, valued at $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,806 shares of company stock worth $7,164,293 over the last 90 days. 5.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APPF. Piper Sandler reduced their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp reduced their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $255.00 to $193.00 in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.75.

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.