Martingale Asset Management L P Sells 4,436 Shares of AppFolio, Inc. (NASDAQ:APPF)

Martingale Asset Management L P trimmed its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 36.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,581 shares of the software maker's stock after selling 4,436 shares during the quarter. Martingale Asset Management L P's holdings in AppFolio were worth $1,785,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of APPF. Blue Trust Inc. lifted its position in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock valued at $29,000 after buying an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock worth $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC lifted its position in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after purchasing an additional 105 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after purchasing an additional 186 shares in the last quarter. Finally, Quarry LP lifted its position in shares of AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker's stock worth $58,000 after purchasing an additional 142 shares in the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APPF. Keefe, Bruyette & Woods cut shares of 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 research report on Tuesday, October 15th. KeyCorp dropped their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. StockNews.com lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, Piper Sandler dropped their price target on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. One 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 data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Performance

NASDAQ APPF traded up $2.14 on Monday, reaching $255.89. The company's stock had a trading volume of 148,530 shares, compared to its average volume of 272,210. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a market cap of $9.30 billion, a PE ratio of 70.68 and a beta of 0.83. The firm's 50 day moving average is $225.24 and its two-hundred day moving average is $231.03.

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

Insider Activity

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the company'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 transaction of $212,091.04. Following the completion of the sale, the insider now owns 33,819 shares of the company's stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares of the company's stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,461 shares of company stock worth $5,766,272 in the last 90 days. 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.