Y Intercept Hong Kong Ltd Decreases Position in AppFolio, Inc. (NASDAQ:APPF)

Y Intercept Hong Kong Ltd decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 76.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,987 shares of the software maker’s stock after selling 12,842 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in AppFolio were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in APPF. CWM LLC increased its holdings 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 in the last quarter. SG Americas Securities LLC lifted its stake in AppFolio by 160.0% during the 2nd quarter. SG Americas Securities LLC now owns 3,895 shares of the software maker’s stock valued at $953,000 after acquiring an additional 2,397 shares during the period. Gladius Capital Management LP purchased a new stake in shares of AppFolio during the 2nd quarter valued at about $1,054,000. Retirement Systems of Alabama grew its stake in shares of AppFolio by 1.0% in the second quarter. Retirement Systems of Alabama now owns 25,903 shares of the software maker’s stock worth $6,335,000 after acquiring an additional 254 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after purchasing an additional 28,673 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 700 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the transaction, the insider now owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the transaction, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,806 shares of company stock worth $7,164,293 in the last three months. 5.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

AppFolio Price Performance

Shares of NASDAQ APPF opened at $263.55 on Friday. The stock has a market cap of $9.58 billion, a PE ratio of 73.41 and a beta of 0.86. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a fifty day moving average price of $230.30 and a 200-day moving average price of $232.57.

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

AppFolio 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.