Algert Global LLC Has $4.66 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Algert Global LLC lessened its position in AppFolio, Inc. (NASDAQ:APPF) by 47.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,057 shares of the software maker’s stock after selling 17,340 shares during the period. Algert Global LLC’s holdings in AppFolio were worth $4,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Driehaus Capital Management LLC increased its holdings in AppFolio by 16.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after purchasing an additional 32,633 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of AppFolio in the second quarter valued at about $9,807,000. Scientech Research LLC acquired a new stake in shares of AppFolio in the second quarter valued at about $407,000. AQR Capital Management LLC increased its stake in shares of AppFolio by 64.0% in the second quarter. AQR Capital Management LLC now owns 58,540 shares of the software maker’s stock valued at $14,317,000 after buying an additional 22,849 shares during the period. Finally, AXA S.A. acquired a new stake in shares of AppFolio in the second quarter valued at about $1,250,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 2,931 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $249.32, for a total value of $730,756.92. Following the transaction, the insider now owns 10,060 shares in the company, valued at $2,508,159.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Maurice J. Duca sold 2,084 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $251.06, for a total value of $523,209.04. Following the transaction, the insider now owns 7,976 shares in the company, valued at $2,002,454.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,931 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $249.32, for a total value of $730,756.92. Following the completion of the transaction, the insider now owns 10,060 shares in the company, valued at approximately $2,508,159.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,832 shares of company stock worth $10,062,598. Corporate insiders own 9.15% of the company’s stock.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $234.54 on Monday. The business’s 50 day simple moving average is $227.94 and its two-hundred day simple moving average is $233.53. The firm has a market cap of $8.49 billion, a P/E ratio of 113.30 and a beta of 0.81. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) earnings per share. On average, equities analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler raised their target price on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, KeyCorp raised their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.75.

About AppFolio

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.