Long Walk Management LP Sells 38,750 Shares of AppFolio, Inc. (NASDAQ:APPF)

Long Walk Management LP cut its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 43.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,750 shares of the software maker's stock after selling 38,750 shares during the period. AppFolio accounts for about 4.9% of Long Walk Management LP's investment portfolio, making the stock its 10th biggest holding. Long Walk Management LP owned 0.14% of AppFolio worth $11,947,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of APPF. Covestor Ltd lifted its stake in AppFolio by 62.4% in the third quarter. Covestor Ltd now owns 799 shares of the software maker's stock valued at $188,000 after acquiring an additional 307 shares during the last quarter. Assetmark Inc. raised its holdings in shares of AppFolio by 649.5% in the 3rd quarter. Assetmark Inc. now owns 2,391 shares of the software maker's stock valued at $563,000 after purchasing an additional 2,072 shares during the period. Verdence Capital Advisors LLC lifted its stake in AppFolio by 17.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,142 shares of the software maker's stock valued at $504,000 after purchasing an additional 320 shares during the last quarter. Capital Performance Advisors LLP bought a new position in AppFolio during the third quarter worth about $156,000. Finally, Summit Global Investments bought a new position in AppFolio during the third quarter worth about $759,000. 62.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APPF has been the subject of a number of recent analyst reports. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. KeyCorp cut their price target on AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, DA Davidson upped their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and a consensus price target of $261.75.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares of the company's stock, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Maurice J. Duca sold 1,296 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the sale, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,652 shares of company stock worth $4,053,818. Company insiders own 5.24% of the company's stock.

AppFolio Stock Performance

NASDAQ:APPF traded down $0.19 during mid-day trading on Friday, reaching $228.20. 195,392 shares of the company's stock were exchanged, compared to its average volume of 318,012. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The business's fifty day simple moving average is $221.31 and its two-hundred day simple moving average is $231.07. The firm has a market capitalization of $8.29 billion, a PE ratio of 63.57 and a beta of 0.83.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analysts' expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business's revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current year.

AppFolio Company Profile

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.