GSA Capital Partners LLP Sells 8,120 Shares of AppFolio, Inc. (NASDAQ:APPF)

GSA Capital Partners LLP cut its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 64.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,420 shares of the software maker's stock after selling 8,120 shares during the period. GSA Capital Partners LLP's holdings in AppFolio were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new stake in AppFolio during the 3rd quarter valued at about $384,000. State of New Jersey Common Pension Fund D grew its position in shares of AppFolio by 5.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 8,475 shares of the software maker's stock valued at $1,995,000 after purchasing an additional 412 shares during the period. Crossmark Global Holdings Inc. increased its stake in AppFolio by 33.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,770 shares of the software maker's stock worth $416,000 after buying an additional 446 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker's stock valued at $5,057,000 after purchasing an additional 3,038 shares during the last quarter. Finally, Covestor Ltd grew its stake in AppFolio by 62.4% during the 3rd quarter. Covestor Ltd now owns 799 shares of the software maker's stock valued at $188,000 after acquiring an additional 307 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research analyst reports. Piper Sandler Companies restated an "overweight" rating and issued a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods lowered shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. DA Davidson upped their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, KeyCorp dropped their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $3.34 during trading hours on Friday, hitting $230.02. 187,336 shares of the company's stock traded hands, compared to its average volume of 277,433. The company's fifty day simple moving average is $221.86 and its two-hundred day simple moving average is $231.12. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 64.07 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm's quarterly revenue was up 24.5% on a year-over-year basis. On average, analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, insider Matthew S. Mazza sold 5,090 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the sale, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 2,968 shares of AppFolio stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the transaction, the insider now directly owns 24,500 shares in the company, valued at approximately $5,754,315. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,796 shares of company stock valued at $4,177,209 in the last quarter. Company insiders own 5.24% of the company's stock.

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.