Hsbc Holdings PLC Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Hsbc Holdings PLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 124.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,359 shares of the software maker’s stock after buying an additional 1,309 shares during the quarter. Hsbc Holdings PLC’s holdings in AppFolio were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the last quarter. CWM LLC grew its position in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the period. Advisors Asset Management Inc. grew its position in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Covestor Ltd increased its stake in shares of AppFolio by 114.0% in the 1st quarter. Covestor Ltd now owns 550 shares of the software maker’s stock worth $136,000 after purchasing an additional 293 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in AppFolio by 265.0% in the 1st quarter. RiverPark Advisors LLC now owns 668 shares of the software maker’s stock worth $165,000 after purchasing an additional 485 shares during the period. 62.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares of the company’s stock, valued at approximately $2,221,612.91. The disclosure for this sale can be found here. Insiders sold 41,832 shares of company stock valued at $10,062,598 in the last three months. Corporate insiders own 9.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APPF. DA Davidson boosted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler raised their target price on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note 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, KeyCorp raised their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Stock Up 0.4 %

Shares of AppFolio stock opened at $235.40 on Tuesday. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The business has a 50-day moving average price of $227.25 and a 200-day moving average price of $233.62. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 113.72 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. AppFolio’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. On average, equities analysts expect 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.