International Assets Investment Management LLC Invests $26.04 Million in AppFolio, Inc. (NASDAQ:APPF)

International Assets Investment Management LLC purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,064 shares of the software maker’s stock, valued at approximately $26,040,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of AppFolio by 3.6% in the first 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 during the period. Bank of New York Mellon Corp increased 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 worth $59,137,000 after buying an additional 28,673 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of AppFolio by 16.7% during 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 during the last quarter. Squarepoint Ops LLC lifted its position in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of AppFolio by 1.0% in the second quarter. Principal Financial Group Inc. now owns 153,134 shares of the software maker’s stock worth $37,452,000 after acquiring an additional 1,488 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several recent research reports. DA Davidson lifted their target price 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. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Piper Sandler reduced their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Insider Activity

In related news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the transaction, the insider now directly owns 18,922 shares in the company, valued at $4,393,309.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,652 shares of company stock valued at $4,053,818. 9.15% of the stock is currently owned by corporate insiders.

AppFolio Trading Down 0.9 %

Shares of NASDAQ:APPF opened at $210.37 on Tuesday. The business has a 50-day moving average price of $223.32 and a 200 day moving average price of $230.91. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 101.63 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. 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 previous year, the firm earned $0.26 EPS. The business’s revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts predict that AppFolio, Inc. will post 3.04 earnings per share 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.