AppFolio, Inc. (NASDAQ:APPF) Position Boosted by Assetmark Inc.

Assetmark Inc. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 649.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,391 shares of the software maker’s stock after buying an additional 2,072 shares during the quarter. Assetmark Inc.’s holdings in AppFolio were worth $563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APPF. Vanguard Group Inc. boosted its stake in AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after purchasing an additional 73,965 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after purchasing an additional 28,673 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in AppFolio by 16.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after purchasing an additional 32,633 shares in the last quarter. Squarepoint Ops LLC boosted its stake in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of AppFolio by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after acquiring an additional 24,697 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

AppFolio Stock Down 1.4 %

APPF opened at $230.02 on Friday. The stock has a fifty day moving average of $221.86 and a 200-day moving average of $231.12. The firm has a market capitalization of $8.36 billion, a P/E ratio of 64.07 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods downgraded 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 research report on Tuesday, October 15th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler cut their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. 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. Finally, DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Transactions at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,968 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the transaction, the insider now directly owns 24,500 shares of the company’s stock, valued at $5,754,315. This represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,796 shares of company stock valued at $4,177,209. 5.24% of the stock is owned by insiders.

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.