Susquehanna Fundamental Investments LLC Invests $9.81 Million in AppFolio, Inc. (NASDAQ:APPF)

Susquehanna Fundamental Investments LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the second quarter, Holdings Channel reports. The institutional investor bought 40,100 shares of the software maker’s stock, valued at approximately $9,807,000.

A number of other institutional investors and hedge funds have also modified their holdings of APPF. GAMMA Investing LLC increased its stake in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC increased its stake in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Covestor Ltd boosted its position in AppFolio by 114.0% during the first quarter. Covestor Ltd now owns 550 shares of the software maker’s stock worth $136,000 after acquiring an additional 293 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its position in AppFolio by 265.0% during the first quarter. RiverPark Advisors LLC now owns 668 shares of the software maker’s stock worth $165,000 after acquiring an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at approximately $17,890,447.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at approximately $17,890,447.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $243.15, for a total transaction of $729,450.00. Following the completion of the transaction, the insider now owns 17,491 shares in the company, valued at $4,252,936.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,832 shares of company stock worth $10,792,048. 9.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. KeyCorp boosted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Price Performance

NASDAQ:APPF opened at $234.54 on Friday. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 113.30 and a beta of 0.81. The company’s 50-day moving average is $227.94 and its two-hundred day moving average is $233.48. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

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

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.