Sanctuary Advisors LLC Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Sanctuary Advisors LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,833 shares of the software maker’s stock, valued at approximately $687,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its holdings in shares of AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares during the period. Geode Capital Management LLC increased its stake in AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after buying an additional 32,743 shares during the period. DF Dent & Co. Inc. raised its position in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after buying an additional 32,181 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AppFolio by 13.5% in the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after acquiring an additional 28,673 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in shares of AppFolio by 16.7% in the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after acquiring an additional 32,633 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of APPF opened at $252.67 on Wednesday. The company has a 50-day moving average of $235.55 and a two-hundred day moving average of $234.02. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 70.38 and a beta of 0.86. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. The trade was a 8.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock valued at $5,744,891. Corporate insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on APPF shares. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

AppFolio Company 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.