Verdence Capital Advisors LLC Acquires 320 Shares of AppFolio, Inc. (NASDAQ:APPF)

Verdence Capital Advisors LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,142 shares of the software maker’s stock after acquiring an additional 320 shares during the period. Verdence Capital Advisors LLC’s holdings in AppFolio were worth $504,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in AppFolio during the first quarter valued at $839,000. Envestnet Portfolio Solutions Inc. bought a new stake in AppFolio during the 1st quarter worth approximately $307,000. SG Americas Securities LLC lifted its holdings in AppFolio by 29.7% during the first quarter. SG Americas Securities LLC now owns 1,498 shares of the software maker’s stock valued at $370,000 after purchasing an additional 343 shares in the last quarter. Swiss National Bank boosted its position in shares of AppFolio by 3.5% in the first quarter. Swiss National Bank now owns 38,400 shares of the software maker’s stock worth $9,475,000 after purchasing an additional 1,300 shares during the period. Finally, Susquehanna Portfolio Strategies LLC purchased a new stake in shares of AppFolio in the first quarter worth $247,000. Institutional investors own 62.34% of the company’s stock.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the sale, the insider now owns 39,980 shares of the company’s stock, valued at $8,844,375.60. This trade represents 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 hyperlink. In other news, insider Matthew S. Mazza sold 2,371 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the sale, the insider now directly owns 39,980 shares of the company’s stock, valued at approximately $8,844,375.60. 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 can be accessed through this link. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,652 shares of company stock worth $4,053,818. Insiders own 5.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. DA Davidson upped their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $261.75.

AppFolio Price Performance

Shares of APPF stock opened at $233.47 on Tuesday. The company has a market cap of $8.48 billion, a PE ratio of 65.03 and a beta of 0.83. The stock’s 50 day simple moving average is $221.34 and its two-hundred day simple moving average is $231.19. 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 results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period last year, the company earned $0.26 earnings per share. AppFolio’s revenue was up 24.5% on a year-over-year basis. Equities research analysts expect that AppFolio, Inc. will post 3.23 EPS for the current 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.