The Manufacturers Life Insurance Company Lowers Position in AppFolio, Inc. (NASDAQ:APPF)

The Manufacturers Life Insurance Company lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 29.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,168 shares of the software maker’s stock after selling 7,470 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of AppFolio worth $4,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. raised its holdings in shares of AppFolio by 280.7% in the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after acquiring an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp bought a new position in AppFolio during the 1st quarter worth approximately $4,415,000. Nebula Research & Development LLC grew its position in AppFolio by 554.5% during the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after acquiring an additional 7,658 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in AppFolio by 223.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after acquiring an additional 4,445 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of AppFolio in the 1st quarter worth approximately $839,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Down 1.7 %

Shares of APPF stock opened at $223.31 on Tuesday. The firm has a market capitalization of $8.09 billion, a PE ratio of 107.88 and a beta of 0.81. The company has a 50 day moving average price of $225.07 and a 200-day moving average price of $233.68. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

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

Insider Transactions at AppFolio

In other news, major shareholder Klaus Schauser sold 1,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total value of $270,000.00. Following the transaction, the insider now owns 403,000 shares of the company’s stock, valued at approximately $108,810,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Klaus Schauser sold 1,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total value of $270,000.00. Following the sale, the insider now owns 403,000 shares in the company, valued at approximately $108,810,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 4,462 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the completion of the sale, the insider now owns 49,784 shares in the company, valued at $13,003,082.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,941 shares of company stock valued at $8,587,162. 9.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APPF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler raised their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. KeyCorp upped their target price on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, DA Davidson increased their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

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.