Asset Management One Co. Ltd. Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Asset Management One Co. Ltd. acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,498 shares of the software maker's stock, valued at approximately $2,467,000.

Several other hedge funds have also recently modified their holdings of APPF. American International Group Inc. boosted its stake in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker's stock valued at $8,973,000 after buying an additional 26,815 shares during the last quarter. Texas Permanent School Fund Corp bought a new position in shares of AppFolio during the 1st quarter valued at approximately $4,415,000. Ameritas Investment Partners Inc. grew its holdings in shares of AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker's stock valued at $1,588,000 after purchasing an additional 4,445 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in AppFolio in the first quarter worth $839,000. Finally, Lazard Asset Management LLC raised its stake in AppFolio by 750.5% during the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker's stock valued at $2,271,000 after purchasing an additional 8,128 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. DA Davidson boosted their price objective on AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lowered AppFolio from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. Finally, StockNews.com downgraded AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. One equities research 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's stock. According to data from MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and a consensus price target of $261.75.

AppFolio Trading Down 0.1 %

Shares of NASDAQ APPF traded down $0.19 during mid-day trading on Friday, reaching $228.20. The company had a trading volume of 195,392 shares, compared to its average volume of 318,012. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 63.57 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The business's 50-day moving average is $221.31 and its 200-day moving average is $231.07.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million during the quarter, compared to analysts' expectations of $199.11 million. During the same period in the previous year, the company earned $0.26 EPS. The firm's quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 2,968 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the sale, the insider now directly owns 24,500 shares in the company, valued at approximately $5,754,315. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Maurice J. Duca sold 2,968 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the sale, the insider now owns 24,500 shares of the company's stock, valued at approximately $5,754,315. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock worth $4,053,818 in the last ninety days. 5.24% of the stock is owned by company insiders.

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.