AppFolio, Inc. (NASDAQ:APPF) Stake Cut by Independent Advisor Alliance

Independent Advisor Alliance cut its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,554 shares of the software maker’s stock after selling 148 shares during the quarter. Independent Advisor Alliance’s holdings in AppFolio were worth $601,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APPF. Blue Trust Inc. lifted its stake in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. GAMMA Investing LLC increased its position in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the period. CWM LLC increased its position in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the period. Advisors Asset Management Inc. increased its position in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in AppFolio by 688.9% in 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 during the period. 62.34% of the stock is currently owned by institutional investors.

AppFolio Stock Down 0.2 %

NASDAQ:APPF opened at $254.82 on Thursday. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 70.52 and a beta of 0.83. The stock has a fifty day simple moving average of $223.87 and a 200 day simple moving average of $230.91.

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

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the sale, the insider now directly owns 18,922 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,735 shares of company stock worth $6,296,137. 5.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APPF. Keefe, Bruyette & Woods lowered 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. KeyCorp dropped 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. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler lowered their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

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.