AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in AppFolio, Inc. (NASDAQ:APPF) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,581 shares of the software maker’s stock after acquiring an additional 207 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in AppFolio were worth $843,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AppFolio by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after purchasing an additional 28,673 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in AppFolio by 16.7% during the second 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. Squarepoint Ops LLC raised its holdings in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in AppFolio by 1.0% during the second quarter. Principal Financial Group Inc. now owns 153,134 shares of the software maker’s stock worth $37,452,000 after purchasing an additional 1,488 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analysts Set New Price Targets

APPF has been the topic of a number of research analyst reports. Piper Sandler cut their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. DA Davidson lifted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Price Performance

NASDAQ:APPF opened at $228.10 on Thursday. The firm’s fifty day moving average price is $221.49 and its 200 day moving average price is $230.83. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 63.17 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, analysts expect that AppFolio, Inc. will post 3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the sale, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction 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 completion of the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares of the company’s stock, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,652 shares of company stock worth $4,053,818. Corporate insiders own 5.24% of the company’s stock.

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.