Algert Global LLC reduced its stake in shares of AppFolio Inc (NASDAQ:APPF) by 15.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,162 shares of the software maker’s stock after selling 4,964 shares during the period. Algert Global LLC’s holdings in AppFolio were worth $2,130,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zacks Investment Management acquired a new stake in AppFolio during the 2nd quarter worth about $906,000. Globeflex Capital L P grew its position in AppFolio by 11.9% during the 2nd quarter. Globeflex Capital L P now owns 11,300 shares of the software maker’s stock worth $691,000 after purchasing an additional 1,200 shares during the period. Nisa Investment Advisors LLC acquired a new stake in AppFolio during the 3rd quarter worth about $1,966,000. Granite Investment Partners LLC acquired a new stake in AppFolio during the 2nd quarter worth about $16,046,000. Finally, DE Burlo Group Inc. acquired a new stake in AppFolio during the 2nd quarter worth about $2,922,000. 30.62% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on APPF shares. BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Zacks Investment Research lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. TheStreet lowered shares of AppFolio from a “b-” rating to a “c+” rating in a research note on Thursday, November 1st. Finally, DA Davidson started coverage on shares of AppFolio in a research note on Wednesday. They set a “neutral” rating and a $66.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $69.00.
In other news, Director William R. Rauth III sold 20,000 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $63.40, for a total transaction of $1,268,000.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,268,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Walker sold 30,000 shares of the stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $73.03, for a total transaction of $2,190,900.00. Following the sale, the insider now directly owns 30,000 shares in the company, valued at $2,190,900. The disclosure for this sale can be found here. Corporate insiders own 41.96% of the company’s stock.
APPF stock opened at $60.78 on Friday. AppFolio Inc has a 52-week low of $37.56 and a 52-week high of $91.49. The stock has a market cap of $2.06 billion, a PE ratio of 216.61 and a beta of 1.41.
AppFolio (NASDAQ:APPF) last posted its earnings results on Monday, October 29th. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.05). AppFolio had a return on equity of 20.57% and a net margin of 11.20%. The firm had revenue of $50.13 million for the quarter, compared to analysts’ expectations of $47.72 million. AppFolio’s quarterly revenue was up 32.2% on a year-over-year basis. As a group, research analysts predict that AppFolio Inc will post 0.63 earnings per share for the current year.
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AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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