Amalgamated Bank Buys 144 Shares of AppFolio, Inc. (NASDAQ:APPF)

Amalgamated Bank boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,945 shares of the software maker’s stock after purchasing an additional 144 shares during the quarter. Amalgamated Bank’s holdings in AppFolio were worth $2,677,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APPF. Principal Financial Group Inc. boosted its holdings in AppFolio by 12.3% in the fourth quarter. Principal Financial Group Inc. now owns 6,165 shares of the software maker’s stock valued at $1,068,000 after acquiring an additional 673 shares in the last quarter. Norges Bank bought a new stake in shares of AppFolio during the 4th quarter valued at $38,458,000. Franklin Resources Inc. boosted its holdings in shares of AppFolio by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 10,441 shares of the software maker’s stock valued at $1,809,000 after buying an additional 1,211 shares in the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of AppFolio by 5.2% during the 4th quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock valued at $894,000 after buying an additional 257 shares in the last quarter. Finally, Oberndorf William E bought a new stake in shares of AppFolio during the 4th quarter valued at $3,020,000. Institutional investors own 62.34% of the company’s stock.

Insider Activity

In other news, major shareholder Klaus Schauser sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $260.00, for a total transaction of $260,000.00. Following the sale, the insider now owns 504,000 shares of the company’s stock, valued at approximately $131,040,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $260.00, for a total transaction of $260,000.00. Following the completion of the transaction, the insider now owns 504,000 shares in the company, valued at approximately $131,040,000. The disclosure for this sale can be found here. Insiders have sold a total of 46,894 shares of company stock valued at $11,324,653 in the last 90 days. 9.15% of the stock is currently owned by insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $238.51 on Wednesday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 115.22 and a beta of 0.81. The firm’s 50-day moving average is $229.63 and its 200 day moving average is $233.34. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.53) EPS. On average, equities analysts expect that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.