International Assets Investment Management LLC Acquires Shares of 11,064 AppFolio, Inc. (NASDAQ:APPF)

International Assets Investment Management LLC acquired a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 11,064 shares of the software maker's stock, valued at approximately $26,040,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its position in AppFolio by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker's stock valued at $1,420,000 after purchasing an additional 49 shares during the period. Blue Trust Inc. increased its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock valued at $29,000 after buying an additional 54 shares during the period. ProShare Advisors LLC raised its stake in AppFolio by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker's stock worth $888,000 after buying an additional 102 shares in the last quarter. CWM LLC lifted 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 buying an additional 105 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock worth $32,000 after buying an additional 112 shares during the period. Institutional investors own 62.34% of the company's stock.

AppFolio Stock Up 2.9 %

Shares of AppFolio stock traded up $6.02 on Tuesday, reaching $216.39. The company's stock had a trading volume of 269,442 shares, compared to its average volume of 281,927. The firm's fifty day simple moving average is $223.24 and its two-hundred day simple moving average is $230.87. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 104.54 and a beta of 0.81. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, research analysts predict that AppFolio, Inc. will post 3.04 EPS for the current year.

Analysts Set New Price Targets

APPF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods downgraded 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, October 15th. StockNews.com downgraded AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a report on Friday, July 26th. Piper Sandler decreased their price target on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a research note on Friday. Finally, KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $261.75.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total value of $306,853.92. Following the transaction, the insider now directly owns 9,383 shares of the company's stock, valued at approximately $2,221,612.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the company's stock in a transaction that occurred on 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 directly owns 9,383 shares of the company's stock, valued at approximately $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares in the company, valued at $4,393,309.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock valued at $4,053,818 in the last ninety days. 9.15% of the stock is currently owned by company insiders.

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.