AppFolio, Inc. (NASDAQ:APPF) Position Trimmed by Insight Holdings Group LLC

Insight Holdings Group LLC trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF) by 40.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,061 shares of the software maker’s stock after selling 35,400 shares during the quarter. AppFolio accounts for about 0.5% of Insight Holdings Group LLC’s portfolio, making the stock its 16th biggest holding. Insight Holdings Group LLC owned 0.14% of AppFolio worth $12,020,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Summit Global Investments bought a new position in shares of AppFolio during the third quarter valued at $759,000. Gladius Capital Management LP acquired a new position in AppFolio in the 2nd quarter valued at $1,054,000. Baker Avenue Asset Management LP lifted its position in shares of AppFolio by 16.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after acquiring an additional 3,038 shares during the period. TD Asset Management Inc raised its stake in shares of AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of AppFolio by 129.9% during the 1st quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after purchasing an additional 7,732 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the 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 transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,700 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the transaction, the insider now owns 14,716 shares of the company’s stock, valued at approximately $3,444,279.80. This represents a 15.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,461 shares of company stock worth $5,766,272. 5.24% of the stock is owned by corporate insiders.

AppFolio Trading Up 0.6 %

Shares of NASDAQ APPF traded up $1.66 during midday trading on Tuesday, reaching $257.55. The company’s stock had a trading volume of 2,667 shares, compared to its average volume of 271,058. The stock has a 50 day simple moving average of $225.64 and a 200-day simple moving average of $231.10. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 71.28 and a beta of 0.86.

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

Wall Street Analyst Weigh In

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

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.