Geode Capital Management LLC boosted its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,032 shares of the software maker's stock after buying an additional 32,743 shares during the quarter. Geode Capital Management LLC owned 1.14% of AppFolio worth $97,252,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker's stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. DF Dent & Co. Inc. raised its position in shares of AppFolio by 10.1% in the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker's stock valued at $82,788,000 after purchasing an additional 32,181 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker's stock valued at $59,137,000 after buying an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of AppFolio by 16.7% during the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker's stock worth $55,672,000 after buying an additional 32,633 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock worth $45,254,000 after buying an additional 120,835 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on APPF shares. Piper Sandler reduced their price objective on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. StockNews.com cut shares of AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. KeyCorp lowered their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and a consensus price target of $261.75.
Check Out Our Latest Research Report on AppFolio
Insider Activity
In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of AppFolio 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 owns 28,266 shares of the company's stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the transaction, the insider now directly owns 14,716 shares of the company's stock, valued at approximately $3,444,279.80. The trade was a 15.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,606 shares of company stock valued at $7,117,857. 5.24% of the stock is currently owned by company insiders.
AppFolio Stock Up 0.1 %
APPF stock traded up $0.30 during midday trading on Thursday, reaching $251.65. The company had a trading volume of 202,779 shares, compared to its average volume of 268,384. The firm has a market capitalization of $9.14 billion, a PE ratio of 70.10 and a beta of 0.86. The stock has a 50 day moving average price of $232.98 and a 200 day moving average price of $233.38. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.
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 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 during the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business's revenue for the quarter was up 24.5% compared to the same quarter last year. Research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.
AppFolio Company Profile
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Free Report)
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.
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