AppFolio, Inc. (NASDAQ:APPF) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,168 shares of the software maker's stock after selling 7,470 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of AppFolio worth $4,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% in the 2nd 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 boosted its holdings in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Covestor Ltd increased its holdings in shares of AppFolio by 114.0% during the first quarter. Covestor Ltd now owns 550 shares of the software maker's stock valued at $136,000 after acquiring an additional 293 shares in the last quarter. Finally, RiverPark Advisors LLC raised its position in shares of AppFolio by 265.0% in the 1st quarter. RiverPark Advisors LLC now owns 668 shares of the software maker's stock valued at $165,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APPF. Piper Sandler Companies reissued an "overweight" rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. KeyCorp raised their target price on AppFolio from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Piper Sandler boosted their price target on AppFolio from $295.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $277.75.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 3,501 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 11,627 shares of the company's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the completion of the transaction, the insider now directly owns 27,768 shares in the company, valued at approximately $6,666,541.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at approximately $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,941 shares of company stock worth $8,587,162. Company insiders own 9.15% of the company's stock.

AppFolio Stock Performance

AppFolio stock traded up $2.82 during midday trading on Tuesday, hitting $226.13. 117,094 shares of the company were exchanged, compared to its average volume of 277,268. The firm has a market capitalization of $8.19 billion, a PE ratio of 109.24 and a beta of 0.81. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The business has a fifty day simple moving average of $225.20 and a two-hundred day simple moving average of $233.63.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same period in the previous year, the firm earned ($0.53) EPS. The business's quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities analysts expect that AppFolio, Inc. will post 3.04 earnings per share 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.