AppFolio, Inc. (NASDAQ:APPF) Stock Position Boosted by Quarry LP

Quarry LP grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 270.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 881 shares of the software maker’s stock after buying an additional 643 shares during the quarter. Quarry LP’s holdings in AppFolio were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its position 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 in the last quarter. CWM LLC grew its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in AppFolio during the third quarter valued at approximately $79,000. 62.34% of the stock is currently owned by institutional investors.

AppFolio Trading Up 0.4 %

Shares of NASDAQ APPF opened at $269.26 on Friday. The firm has a market capitalization of $9.78 billion, a PE ratio of 75.00 and a beta of 0.86. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The business has a 50-day moving average price of $227.44 and a two-hundred day moving average price of $231.76.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 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 analysts’ expectations 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 period last year, the company posted $0.26 earnings per share. Research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. KeyCorp decreased their price target on shares of 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 lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total transaction of $46,436.00. Following the transaction, the insider now owns 18,922 shares in the company, valued at approximately $4,393,309.96. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the transaction, the director now directly owns 5,416 shares in the company, valued at $1,383,354.72. The trade was a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,961 shares of company stock worth $5,893,982 in the last ninety days. Corporate 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.