Point72 Asset Management L.P. Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Point72 Asset Management L.P. bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,501 shares of the software maker's stock, valued at approximately $6,474,000. Point72 Asset Management L.P. owned 0.08% of AppFolio as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock worth $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC increased its stake in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after purchasing an additional 105 shares in the last quarter. SG Americas Securities LLC raised its holdings in AppFolio by 160.0% during the 2nd quarter. SG Americas Securities LLC now owns 3,895 shares of the software maker's stock worth $953,000 after buying an additional 2,397 shares during the period. Gladius Capital Management LP purchased a new stake in AppFolio during the second quarter valued at about $1,054,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of AppFolio by 1.0% in the second quarter. Retirement Systems of Alabama now owns 25,903 shares of the software maker's stock worth $6,335,000 after buying an additional 254 shares during the period. 85.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 926 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the sale, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total value of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company's stock, valued at $1,383,354.72. This represents a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,961 shares of company stock valued at $5,893,982 over the last ninety days. Corporate insiders own 5.24% of the company's stock.

AppFolio Price Performance

APPF traded down $4.02 during trading on Monday, reaching $258.98. 149,917 shares of the stock traded hands, compared to its average volume of 271,260. The stock's 50-day simple moving average is $228.00 and its two-hundred day simple moving average is $231.82. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 73.26 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same period in the previous year, the company earned $0.26 EPS. The firm's revenue was up 24.5% on a year-over-year basis. Research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp cut their target price on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Finally, Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.75.

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.