AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Commerce Bank

Commerce Bank cut its stake in AppFolio, Inc. (NASDAQ:APPF) by 2.6% in the third quarter, Holdings Channel reports. The fund owned 3,150 shares of the software maker’s stock after selling 83 shares during the period. Commerce Bank’s holdings in AppFolio were worth $742,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC increased its position in AppFolio by 750.5% during the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares during the last quarter. Summit Global Investments purchased a new stake in shares of AppFolio during the 3rd quarter valued at approximately $759,000. Gladius Capital Management LP acquired a new position in AppFolio in the second quarter valued at approximately $1,054,000. Baker Avenue Asset Management LP grew its position in AppFolio by 16.5% in the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after acquiring an additional 3,038 shares during the period. Finally, TD Asset Management Inc increased its stake in AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after acquiring an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the topic of several recent analyst reports. KeyCorp decreased their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler dropped their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, 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 research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Stock Performance

Shares of APPF stock opened at $251.06 on Tuesday. The stock has a market capitalization of $9.12 billion, a P/E ratio of 69.93 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company has a 50 day moving average price of $223.34 and a 200 day moving average price of $230.86.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 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 business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, research analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at AppFolio

In related news, major shareholder Maurice J. Duca sold 2,274 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $233.01, for a total value of $529,864.74. Following the completion of the sale, the insider now directly owns 19,122 shares of the company’s stock, valued at $4,455,617.22. The trade was a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,175 shares of company stock valued at $6,397,163. Insiders own 5.24% of the company’s stock.

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.