Assenagon Asset Management S.A. Boosts Holdings in AppFolio, Inc. (NASDAQ:APPF)

Assenagon Asset Management S.A. boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 13.0% during the 4th quarter, Holdings Channel reports. The firm owned 52,007 shares of the software maker’s stock after buying an additional 5,985 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AppFolio were worth $12,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC raised its stake in AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares during the last quarter. FMR LLC lifted its position in AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after buying an additional 55,348 shares during the last quarter. Franklin Resources Inc. grew its holdings in AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of AppFolio in the second quarter worth approximately $12,993,000. Institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on APPF shares. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler lowered AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target on the stock. in a research note on Monday, January 6th. Finally, KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AppFolio has an average rating of “Hold” and a consensus price target of $261.88.

AppFolio Stock Performance

AppFolio stock opened at $251.92 on Friday. AppFolio, Inc. has a one year low of $172.98 and a one year high of $274.56. The stock has a market cap of $9.15 billion, a PE ratio of 70.17 and a beta of 0.87. The stock has a 50-day moving average of $249.85 and a two-hundred day moving average of $235.68.

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

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the sale, the insider now owns 28,266 shares of the company’s stock, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,768 shares of company stock worth $5,744,891 over the last 90 days. 5.24% of the stock is currently owned by company insiders.

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.