AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Fmr LLC

FMR LLC raised its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 998.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,894 shares of the software maker's stock after purchasing an additional 55,348 shares during the period. FMR LLC owned 0.17% of AppFolio worth $14,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 54 shares during the period. CWM LLC boosted its holdings 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 purchasing an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock valued at $52,000 after purchasing an additional 186 shares during the last quarter. Quarry LP increased its holdings in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker's stock worth $58,000 after buying an additional 142 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock valued at $92,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Stock Performance

Shares of AppFolio stock traded up $3.71 during trading hours on Wednesday, reaching $260.32. 112,854 shares of the company were exchanged, compared to its average volume of 270,482. The firm has a market cap of $9.46 billion, a PE ratio of 72.72 and a beta of 0.86. The stock's fifty day moving average is $228.90 and its 200 day moving average is $232.15. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly 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 company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same quarter last year, the company earned $0.26 EPS. AppFolio's revenue for the quarter was up 24.5% compared to the same quarter last year. Research analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of AppFolio stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now owns 33,819 shares of the company's stock, valued at $7,745,903.76. The trade was 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 hyperlink. Also, major shareholder Maurice J. Duca sold 1,059 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total value of $242,616.90. Following the completion of the sale, the insider now directly owns 9,388 shares of the company's stock, valued at $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,106 shares of company stock worth $6,985,443 in the last ninety days. 5.24% of the stock is owned by corporate 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.