Marshall Wace LLP Lowers Holdings in AppFolio, Inc. (NASDAQ:APPF)

Marshall Wace LLP reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 97.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,107 shares of the software maker's stock after selling 83,249 shares during the period. Marshall Wace LLP's holdings in AppFolio were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APPF. American International Group Inc. raised its stake in AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker's stock valued at $8,973,000 after purchasing an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp bought a new stake in shares of AppFolio during the 1st quarter worth $4,415,000. Ameritas Investment Partners Inc. grew its position in AppFolio by 223.5% in the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker's stock worth $1,588,000 after acquiring an additional 4,445 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in AppFolio in the first quarter valued at $839,000. Finally, Lazard Asset Management LLC raised its position in AppFolio by 750.5% during the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker's stock valued at $2,271,000 after purchasing an additional 8,128 shares in the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Trading Down 1.3 %

APPF stock traded down $3.00 during midday trading on Thursday, hitting $222.16. The company's stock had a trading volume of 267,063 shares, compared to its average volume of 276,630. The company has a market cap of $8.05 billion, a PE ratio of 108.77 and a beta of 0.81. The firm's 50-day moving average is $225.27 and its 200-day moving average is $233.57. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to analysts' expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. AppFolio's revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. Analysts expect that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

APPF has been the subject of a number of research reports. KeyCorp upped their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. DA Davidson upped their target price on AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com lowered AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Piper Sandler Companies reiterated an "overweight" rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $277.75.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares of the company's stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Klaus Schauser sold 1,000 shares of AppFolio stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total transaction of $270,000.00. Following the transaction, the insider now owns 403,000 shares in the company, valued at $108,810,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares of the company's stock, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,941 shares of company stock worth $8,587,162 over the last quarter. Company insiders own 9.15% 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.