Verdence Capital Advisors LLC Lowers Position in AppFolio, Inc. (NASDAQ:APPF)

Verdence Capital Advisors LLC lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 22.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,822 shares of the software maker’s stock after selling 519 shares during the period. Verdence Capital Advisors LLC’s holdings in AppFolio were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of APPF. GAMMA Investing LLC grew its stake in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after acquiring an additional 112 shares during the period. CWM LLC boosted its position in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. increased its stake in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of AppFolio in the fourth quarter worth $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of AppFolio during the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APPF shares. JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler lifted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, DA Davidson upped their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy K. Bliss sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.20, for a total value of $3,468,000.00. Following the transaction, the director now directly owns 38,270 shares in the company, valued at approximately $8,848,024. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,612 shares of company stock worth $30,661,611. Company insiders own 9.15% of the company’s stock.

AppFolio Stock Performance

APPF stock traded up $4.59 during trading on Monday, hitting $234.05. 206,105 shares of the company’s stock traded hands, compared to its average volume of 295,990. The business has a fifty day simple moving average of $236.70 and a 200 day simple moving average of $234.15. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 113.25 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) earnings per share. Research analysts forecast that AppFolio, Inc. will post 2.99 earnings per share for the current fiscal year.

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.