AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 161,278 shares of the software maker’s stock after purchasing an additional 5,077 shares during the quarter. JPMorgan Chase & Co.’s holdings in AppFolio were worth $37,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Lord Abbett & CO. LLC increased its stake in AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares during the period. Squarepoint Ops LLC lifted its stake in shares of AppFolio by 188.2% in 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. Los Angeles Capital Management LLC boosted its holdings in shares of AppFolio by 516.6% in the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after acquiring an additional 92,034 shares in the last quarter. FMR LLC lifted its position in AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after purchasing an additional 55,348 shares during the period. Finally, Franklin Resources Inc. boosted its stake in AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 4,145 shares of AppFolio 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock worth $5,744,891 in the last quarter. 5.24% of the stock is currently owned by corporate insiders.

AppFolio Stock Performance

AppFolio stock opened at $252.72 on Monday. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 70.40 and a beta of 0.87. The company has a 50 day moving average price of $243.37 and a 200 day moving average price of $234.95. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

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, beating the consensus estimate 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 return on equity of 30.64% and a net margin of 17.26%. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on APPF shares. Keefe, Bruyette & Woods downgraded 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. Piper Sandler cut their price target 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. Finally, KeyCorp lowered their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.