Baker Avenue Asset Management LP Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Baker Avenue Asset Management LP boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 16.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,483 shares of the software maker’s stock after buying an additional 3,038 shares during the period. Baker Avenue Asset Management LP’s holdings in AppFolio were worth $5,057,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of APPF. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 112 shares during the last quarter. CWM LLC boosted its holdings in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings 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 purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the subject of several research reports. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the sale, the insider now owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Matthew S. Mazza sold 2,371 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares of the company’s stock, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the transaction, the insider now directly owns 18,922 shares in the company, valued at approximately $4,393,309.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock valued at $4,053,818 over the last 90 days. Insiders own 5.24% of the company’s stock.

AppFolio Trading Down 0.1 %

Shares of NASDAQ:APPF traded down $0.19 during trading on Friday, reaching $228.20. The company’s stock had a trading volume of 195,392 shares, compared to its average volume of 318,012. The stock has a market capitalization of $8.29 billion, a PE ratio of 63.57 and a beta of 0.83. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The firm’s 50 day simple moving average is $221.31 and its two-hundred day simple moving average is $230.97.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

AppFolio Company 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.