Inspire Advisors LLC Buys Shares of 10,906 AppFolio, Inc. (NASDAQ:APPF)

Inspire Advisors LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,906 shares of the software maker's stock, valued at approximately $2,567,000.

A number of other large investors also recently modified their holdings of APPF. GAMMA Investing LLC increased 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 valued at $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC grew its position in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock valued at $36,000 after buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock valued at $44,000 after buying an additional 134 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock valued at $52,000 after buying an additional 186 shares during the last quarter. Finally, Quarry LP grew its position in shares of AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker's stock valued at $58,000 after buying an additional 142 shares during the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Down 0.2 %

NASDAQ:APPF traded down $0.47 during trading hours on Friday, reaching $201.14. 239,109 shares of the company's stock were exchanged, compared to its average volume of 276,892. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 97.17 and a beta of 0.81. The company has a 50-day moving average of $225.36 and a 200 day moving average of $232.13. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping 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 company had revenue of $197.38 million during the quarter, compared to analysts' expectations of $190.57 million. During the same quarter last year, the business earned ($0.53) EPS. The business's revenue was up 34.2% on a year-over-year basis. Research analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the sale, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. 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 accessible through this hyperlink. In related news, major shareholder Klaus Schauser sold 1,000 shares of the firm's stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $270.00, for a total value of $270,000.00. Following the completion of the sale, the insider now owns 403,000 shares in the company, valued at $108,810,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were 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 owns 9,383 shares of the company's stock, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,941 shares of company stock worth $8,327,162. Company insiders own 9.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APPF. KeyCorp increased their target price on shares of AppFolio from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $255.00 to $193.00 in a research report on Tuesday. DA Davidson increased their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. Finally, Piper Sandler Companies reaffirmed an "overweight" rating and issued a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.13.

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.