Inspire Advisors LLC Takes $2.57 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Inspire Advisors LLC purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,906 shares of the software maker’s stock, valued at approximately $2,567,000.

A number of other hedge funds also recently made changes to their positions in APPF. Claro Advisors LLC acquired a new stake in AppFolio during the 3rd quarter worth approximately $2,937,000. Exchange Traded Concepts LLC boosted its position in AppFolio by 59.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 602 shares of the software maker’s stock worth $142,000 after buying an additional 224 shares during the period. Inspire Investing LLC acquired a new stake in AppFolio during the 3rd quarter worth approximately $921,000. Burns Matteson Capital Management LLC acquired a new stake in AppFolio during the 3rd quarter worth approximately $305,000. Finally, CWM LLC boosted its position in AppFolio by 5,985.2% during the 3rd quarter. CWM LLC now owns 9,067 shares of the software maker’s stock worth $2,134,000 after buying an additional 8,918 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction on Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the sale, the insider now owns 27,768 shares in the company, valued at $6,666,541.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction on Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares of the company’s stock, valued at approximately $6,410,111.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the completion of the sale, the insider now directly owns 27,768 shares of the company’s stock, valued at approximately $6,666,541.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,941 shares of company stock worth $8,327,162 in the last quarter. 9.15% of the stock is owned by corporate insiders.

AppFolio Price Performance

Shares of NASDAQ:APPF traded down $1.21 during mid-day trading on Friday, hitting $200.40. The company had a trading volume of 45,922 shares, compared to its average volume of 275,888. The firm has a fifty day moving average price of $225.61 and a 200 day moving average price of $232.40. The company has a market capitalization of $7.26 billion, a PE ratio of 98.32 and a beta of 0.81. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating 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 net margin of 17.32% and a return on equity of 27.39%. AppFolio’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) EPS. Research analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APPF shares. KeyCorp lifted their target price on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler raised their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $272.13.

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.