Algert Global LLC Has $5.64 Million Stake in AppFolio, Inc. (NASDAQ:APPF)

Algert Global LLC raised its position in AppFolio, Inc. (NASDAQ:APPF) by 25.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,974 shares of the software maker’s stock after purchasing an additional 4,917 shares during the quarter. Algert Global LLC owned 0.07% of AppFolio worth $5,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC raised its stake in shares of AppFolio by 1,120.7% in the 3rd quarter. Cerity Partners LLC now owns 14,648 shares of the software maker’s stock valued at $3,448,000 after purchasing an additional 13,448 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of AppFolio by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 176,815 shares of the software maker’s stock valued at $41,622,000 after acquiring an additional 24,141 shares during the last quarter. Moran Wealth Management LLC increased its position in shares of AppFolio by 2.2% in the third quarter. Moran Wealth Management LLC now owns 40,341 shares of the software maker’s stock valued at $9,496,000 after acquiring an additional 858 shares during the last quarter. EULAV Asset Management increased its position in shares of AppFolio by 40.6% in the third quarter. EULAV Asset Management now owns 55,449 shares of the software maker’s stock valued at $13,053,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Up 2.4 %

Shares of NASDAQ APPF opened at $242.39 on Friday. The business’s 50 day moving average price is $222.87 and its two-hundred day moving average price is $230.92. The company has a market cap of $8.81 billion, a PE ratio of 67.52 and a beta of 0.83. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. As a group, research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. KeyCorp lowered their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler lowered their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 200 shares of the business’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 value of $46,436.00. Following the sale, the insider now owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,865 shares of company stock worth $5,799,618 over the last quarter. Company insiders own 5.24% of the company’s stock.

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.