Charles Schwab Investment Management Inc. Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Charles Schwab Investment Management Inc. grew its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 15.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,815 shares of the software maker's stock after purchasing an additional 24,141 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.49% of AppFolio worth $41,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of AppFolio by 0.9% during the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker's stock valued at $1,420,000 after buying an additional 49 shares during the period. Blue Trust Inc. increased its stake in AppFolio by 85.7% in 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 period. ProShare Advisors LLC lifted its position in shares of AppFolio by 2.9% during the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker's stock worth $888,000 after purchasing an additional 102 shares during the last quarter. CWM LLC boosted its stake in shares of AppFolio by 238.6% during the second 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. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares of the company's stock, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 926 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,961 shares of company stock worth $5,893,982. Insiders own 5.24% of the company's stock.

AppFolio Price Performance

AppFolio stock traded up $5.69 during trading hours on Tuesday, reaching $261.58. The stock had a trading volume of 374,598 shares, compared to its average volume of 168,161. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 72.86 and a beta of 0.86. The business's 50 day moving average price is $225.64 and its 200-day moving average price is $231.10.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its 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. 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 quarter in the prior year, the company posted $0.26 earnings per share. AppFolio's revenue for the quarter was up 24.5% compared to the same quarter last year. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the subject of several research reports. KeyCorp lowered their price objective on shares of 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 price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. StockNews.com lowered AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Finally, Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average price target of $261.75.

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.