Inspire Investing LLC Purchases New Shares in AppFolio, Inc. (NASDAQ:APPF)

Inspire Investing LLC bought a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,913 shares of the software maker's stock, valued at approximately $921,000.

A number of other institutional investors also recently modified their holdings of APPF. GAMMA Investing LLC lifted its holdings in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock valued at $32,000 after buying an additional 112 shares during the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker's stock valued at $36,000 after acquiring an additional 105 shares during the last quarter. Advisors Asset Management Inc. grew its position in AppFolio by 291.3% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 688.9% during the 2nd 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 during the last quarter. Finally, Quarry LP increased its stake in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker's stock worth $58,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company's stock.

AppFolio Stock Performance

Shares of APPF traded down $24.56 during mid-day trading on Tuesday, hitting $201.97. The company's stock had a trading volume of 622,649 shares, compared to its average volume of 277,718. The firm has a market capitalization of $7.31 billion, a PE ratio of 97.57 and a beta of 0.81. The stock's 50-day moving average is $226.04 and its two-hundred day moving average is $232.83. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

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

Analyst Ratings Changes

APPF has been the subject of a number of recent research reports. 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. StockNews.com lowered AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods lowered 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 report on Tuesday. JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. Finally, KeyCorp boosted their price objective on shares of AppFolio from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $272.13.

Insiders Place Their Bets

In other news, 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 value of $766,648.98. Following the completion of the transaction, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Maurice J. Duca sold 4,462 shares of the business's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $261.19, for a total value of $1,165,429.78. Following the sale, the insider now owns 49,784 shares of the company's stock, valued at $13,003,082.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the 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 transaction, the chief executive officer now owns 81,699 shares of the company's stock, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,941 shares of company stock worth $8,327,162 over the last 90 days. Corporate 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.