Bayesian Capital Management LP Has $968,000 Holdings in AppFolio, Inc. (NASDAQ:APPF)

Bayesian Capital Management LP trimmed its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 57.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,925 shares of the software maker’s stock after selling 5,200 shares during the quarter. Bayesian Capital Management LP’s holdings in AppFolio were worth $968,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Caxton Associates LP bought a new position in shares of AppFolio during the first quarter worth approximately $290,000. Paloma Partners Management Co bought a new position in AppFolio during the 1st quarter worth $336,000. Lazard Asset Management LLC raised its holdings in AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after acquiring an additional 8,128 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in shares of AppFolio during the 1st quarter valued at $207,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Up 1.8 %

Shares of NASDAQ APPF traded up $3.93 during midday trading on Wednesday, reaching $223.46. 901 shares of the company were exchanged, compared to its average volume of 305,680. The stock’s 50-day moving average price is $241.87 and its 200-day moving average price is $232.18. The stock has a market cap of $8.09 billion, a P/E ratio of 106.05 and a beta of 0.80. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the previous year, the company posted ($0.53) EPS. AppFolio’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts anticipate that AppFolio, Inc. will post 2.89 EPS for the current year.

Analysts Set New Price Targets

APPF has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Piper Sandler upped their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised AppFolio from a “hold” rating to a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Transactions at AppFolio

In related news, Director Timothy K. Bliss sold 12,170 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $232.52, for a total value of $46,504.00. Following the transaction, the insider now directly owns 27,568 shares of the company’s stock, valued at $6,410,111.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,271 shares of company stock worth $33,962,473. Insiders own 9.15% 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.