Bank of Montreal Can Raises Holdings in AppFolio, Inc. (NASDAQ:APPF)

Bank of Montreal Can raised its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 546.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,199 shares of the software maker's stock after buying an additional 17,074 shares during the quarter. Bank of Montreal Can owned about 0.06% of AppFolio worth $4,737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in shares of AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock valued at $45,254,000 after purchasing an additional 120,835 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of AppFolio by 516.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker's stock valued at $26,866,000 after purchasing an additional 92,034 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of AppFolio in the second quarter worth about $12,993,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of AppFolio in the 2nd quarter worth about $9,807,000. Finally, Manchester Global Management UK Ltd grew its holdings in shares of AppFolio by 83.4% in the second quarter. Manchester Global Management UK Ltd now owns 83,589 shares of the software maker's stock worth $20,443,000 after purchasing an additional 38,000 shares during the last quarter. Institutional investors own 62.34% of the company's stock.

AppFolio Price Performance

APPF traded up $6.49 during trading on Wednesday, reaching $268.07. The company had a trading volume of 180,935 shares, compared to its average volume of 272,257. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The company has a market cap of $9.74 billion, a P/E ratio of 73.44 and a beta of 0.86. The business's fifty day moving average price is $226.10 and its 200 day moving average price is $231.24.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping 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 company had revenue of $206.00 million during the quarter, compared to analysts' expectations of $199.11 million. During the same quarter in the previous year, the firm earned $0.26 EPS. AppFolio's revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $46,436.00. Following the completion of the transaction, the insider now directly owns 18,922 shares in the company, valued at $4,393,309.96. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,961 shares of company stock valued at $5,893,982. 5.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of research reports. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Piper Sandler cut their price target on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and lowered their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and an average target price of $261.75.

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.