MML Investors Services LLC Has $216,000 Stock Position in AppFolio, Inc. (NASDAQ:APPF)

MML Investors Services LLC cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 919 shares of the software maker’s stock after selling 127 shares during the quarter. MML Investors Services LLC’s holdings in AppFolio were worth $216,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APPF. Summit Global Investments bought a new stake in shares of AppFolio in the third quarter valued at about $759,000. Captrust Financial Advisors raised its holdings in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after acquiring an additional 2,830 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after acquiring an additional 3,038 shares during the period. TD Asset Management Inc grew its holdings in shares of AppFolio by 48.1% during the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of APPF stock opened at $252.45 on Friday. The stock has a 50-day moving average of $237.55 and a 200-day moving average of $234.28. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The stock has a market cap of $9.17 billion, a PE ratio of 70.32 and a beta of 0.86.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on APPF. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.75.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the sale, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,510 shares of AppFolio stock in a transaction on Monday, November 18th. The shares were sold at an average price of $229.21, for a total transaction of $575,317.10. Following the completion of the sale, the insider now owns 2,459 shares in the company, valued at $563,627.39. The trade was a 50.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock valued at $5,744,891. Company 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.