1,000 Shares in AppFolio, Inc. (NASDAQ:APPF) Purchased by Davis R M Inc.

Davis R M Inc. acquired a new position in AppFolio, Inc. (NASDAQ:APPF) in the first quarter, Holdings Channel reports. The fund acquired 1,000 shares of the software maker’s stock, valued at approximately $247,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after acquiring an additional 73,965 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its holdings in AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after buying an additional 15,283 shares during the period. Norges Bank bought a new position in AppFolio in the 4th quarter worth approximately $38,458,000. Zeno Equity Partners LLP boosted its holdings in AppFolio by 6.6% in the 1st quarter. Zeno Equity Partners LLP now owns 205,781 shares of the software maker’s stock worth $50,774,000 after buying an additional 12,786 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in AppFolio by 13.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,239 shares of the software maker’s stock worth $29,492,000 after buying an additional 20,166 shares during the period. 62.34% of the stock is owned by institutional investors.

AppFolio Price Performance

AppFolio stock traded up $1.73 during trading hours on Tuesday, reaching $271.50. The stock had a trading volume of 174,852 shares, compared to its average volume of 299,257. The stock has a market cap of $9.83 billion, a PE ratio of 131.15 and a beta of 0.80. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.34. The company has a fifty day simple moving average of $241.89 and a 200-day simple moving average of $229.21.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. Research analysts predict that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APPF shares. Stephens reaffirmed an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. KeyCorp raised their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.71.

Insider Activity

In related news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares in the company, valued at $12,716,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $231.20, for a total transaction of $485,520.00. Following the transaction, the insider now owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The disclosure for this sale can be found here. Insiders sold 124,982 shares of company stock valued at $29,689,129 over the last three months. Insiders own 9.15% of the company’s stock.

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.