SG Americas Securities LLC Purchases 5,674 Shares of AppFolio, Inc. (NASDAQ:APPF)

SG Americas Securities LLC lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 385.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,145 shares of the software maker’s stock after acquiring an additional 5,674 shares during the quarter. SG Americas Securities LLC’s holdings in AppFolio were worth $1,763,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after purchasing an additional 49,238 shares during the period. Lord Abbett & CO. LLC grew its stake in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares in the last quarter. Geode Capital Management LLC grew its stake in AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after buying an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. raised its holdings in AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after acquiring an additional 54,386 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares in the company, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,768 shares of company stock valued at $5,744,891. Corporate insiders own 5.24% of the company’s stock.

AppFolio Price Performance

Shares of AppFolio stock opened at $250.03 on Monday. The company has a 50 day simple moving average of $252.13 and a two-hundred day simple moving average of $235.78. The firm has a market cap of $9.08 billion, a PE ratio of 69.65 and a beta of 0.87. AppFolio, Inc. has a 1 year low of $172.98 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter last year, the business 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 3.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APPF shares. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target on the stock. in a research report on Monday, January 6th. Finally, KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $268.57.

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.