AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can lifted its stake in AppFolio, Inc. (NASDAQ:APPF) by 546.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,199 shares of the software maker’s stock after purchasing an additional 17,074 shares during the period. Bank of Montreal Can’s holdings in AppFolio were worth $4,737,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in APPF. Blue Trust Inc. lifted its position in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the period. CWM LLC grew its stake in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the period. Finally, Quarry LP lifted its stake in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after buying an additional 142 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 subject of several research reports. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. KeyCorp lowered their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler dropped their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One 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. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Insider Activity at AppFolio

In other AppFolio news, Director Scanlan Agnes Bundy sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.42, for a total transaction of $127,710.00. Following the sale, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This trade represents a 8.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,577 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the sale, the insider now owns 2,875 shares in the company, valued at approximately $720,906.25. This trade represents a 47.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,961 shares of company stock valued at $5,893,982. 5.24% of the stock is owned by corporate insiders.

AppFolio Stock Up 2.2 %

Shares of APPF stock opened at $261.58 on Wednesday. The stock has a market cap of $9.50 billion, a P/E ratio of 72.86 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The business has a fifty day simple moving average of $225.64 and a 200-day simple moving average of $231.10.

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

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.