Handelsbanken Fonder AB Acquires 800 Shares of AppFolio, Inc. (NASDAQ:APPF)

Handelsbanken Fonder AB boosted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the software maker’s stock after buying an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in AppFolio were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC boosted its position in 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 during the period. Advisors Asset Management Inc. increased its holdings in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the period. Finally, Quarry LP lifted its stake in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APPF shares. 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. KeyCorp increased their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, DA Davidson lifted their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the business’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 transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $270.00, for a total transaction of $270,000.00. Following the completion of the transaction, the insider now directly owns 403,000 shares of the company’s stock, valued at $108,810,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,941 shares of company stock worth $8,327,162. Corporate insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

NASDAQ:APPF opened at $226.27 on Friday. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 66.36 and a beta of 0.81. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a fifty day moving average price of $225.72 and a 200-day moving average price of $233.49.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share 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 business had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same quarter in the prior year, the business posted ($0.53) earnings per share. AppFolio’s revenue was up 34.2% compared to the same quarter last year. Research analysts predict that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

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.