EULAV Asset Management Purchases 16,000 Shares of AppFolio, Inc. (NASDAQ:APPF)

EULAV Asset Management grew its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 40.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,449 shares of the software maker's stock after acquiring an additional 16,000 shares during the period. EULAV Asset Management owned 0.15% of AppFolio worth $13,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker's stock worth $1,420,000 after purchasing an additional 49 shares in the last quarter. Blue Trust Inc. lifted its position in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after buying an additional 54 shares in the last quarter. ProShare Advisors LLC grew its holdings in AppFolio by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker's stock worth $888,000 after acquiring an additional 102 shares during the last quarter. CWM LLC increased its position in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake 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 acquiring an additional 112 shares during the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler Companies reissued an "overweight" rating and set a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler dropped their price objective on AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, July 26th. KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com lowered 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 assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $261.75.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 926 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the sale, the insider now directly owns 33,819 shares of the company's stock, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total value of $116,295.00. Following the transaction, the insider now directly owns 22,997 shares in the company, valued at $5,348,872.23. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,296 shares of company stock worth $4,981,684. Insiders own 5.24% of the company's stock.

AppFolio Stock Performance

NASDAQ APPF traded up $2.10 during trading on Wednesday, hitting $230.65. The stock had a trading volume of 109,113 shares, compared to its average volume of 275,915. The company's 50-day moving average price is $222.16 and its two-hundred day moving average price is $231.04. The company has a market capitalization of $8.38 billion, a PE ratio of 63.66 and a beta of 0.83. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. AppFolio's quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

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.