AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 24.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 6,774 shares of the software maker’s stock after buying an additional 1,348 shares during the period. Point72 Hong Kong Ltd’s holdings in AppFolio were worth $1,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APPF. Blue Trust Inc. raised its position 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 acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC increased 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 in the last quarter. CWM LLC lifted 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 valued at $36,000 after purchasing an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares in the last quarter. Finally, Quarry LP grew its position in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APPF. Piper Sandler decreased their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company 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 price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, KeyCorp decreased 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. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Stock Down 0.4 %

Shares of APPF opened at $253.75 on Monday. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The stock has a market cap of $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. The firm’s fifty day moving average is $225.24 and its two-hundred day moving average is $231.17.

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

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 14,716 shares of the company’s stock, valued at $3,444,279.80. The trade was 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 have sold 24,461 shares of company stock valued at $5,766,272. Insiders own 5.24% of the company’s stock.

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.