Lecap Asset Management Ltd. Invests $1 Million in AppFolio, Inc. (NASDAQ:APPF)

Lecap Asset Management Ltd. purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,259 shares of the software maker's stock, valued at approximately $1,003,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. Vanguard Group Inc. grew its stake in AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker's stock valued at $531,139,000 after buying an additional 73,965 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker's stock worth $59,137,000 after purchasing an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in AppFolio by 16.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker's stock worth $55,672,000 after purchasing an additional 32,633 shares during the last quarter. Squarepoint Ops LLC boosted its stake in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock valued at $45,254,000 after purchasing an additional 120,835 shares during the period. Finally, Principal Financial Group Inc. increased its position in AppFolio by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 153,134 shares of the software maker's stock worth $37,452,000 after buying an additional 1,488 shares during the period. Institutional investors own 62.34% of the company's stock.

AppFolio Stock Down 1.8 %

Shares of APPF traded down $3.45 during midday trading on Thursday, hitting $192.07. The company's stock had a trading volume of 573,609 shares, compared to its average volume of 278,697. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 96.23 and a beta of 0.81. The company's fifty day simple moving average is $224.31 and its two-hundred day simple moving average is $231.39.

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, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $190.57 million. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. The company's revenue was up 34.2% on a year-over-year basis. On average, research analysts predict that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on APPF. Piper Sandler Companies restated an "overweight" rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. KeyCorp lifted their price target 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 AppFolio from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. Finally, Piper Sandler increased their target price on AppFolio from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.13.

Insider Activity at AppFolio

In other news, major shareholder Maurice J. Duca sold 11,627 shares of the company's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the transaction, the insider now owns 27,768 shares of the company's stock, valued at $6,666,541.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Maurice J. Duca sold 200 shares of the firm's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the transaction, the insider now directly owns 27,568 shares of the company's stock, valued at $6,410,111.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Maurice J. Duca sold 11,627 shares of the company's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the sale, the insider now owns 27,768 shares in the company, valued at $6,666,541.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,479 shares of company stock valued at $6,891,732 in the last 90 days. 9.15% of the stock is owned by corporate insiders.

AppFolio 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.