Quest Partners LLC Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Quest Partners LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,685 shares of the software maker's stock, valued at approximately $632,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its position in shares of AppFolio by 200.8% during the 1st quarter. US Bancorp DE now owns 1,444 shares of the software maker's stock valued at $356,000 after acquiring an additional 964 shares during the period. Vanguard Group Inc. raised its holdings in shares of AppFolio by 3.6% in the first 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. CANADA LIFE ASSURANCE Co increased its stake in shares of AppFolio by 11.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker's stock worth $10,243,000 after acquiring an additional 4,131 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of AppFolio during the first quarter worth about $207,000. Finally, Advisors Asset Management Inc. grew its position in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock worth $44,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 62.34% of the company's stock.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 1,059 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $229.10, for a total transaction of $242,616.90. Following the completion of the transaction, the insider now owns 9,388 shares of the company's stock, valued at approximately $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now directly owns 28,266 shares of the company's stock, valued at $6,677,559.84. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,865 shares of company stock valued at $5,799,618 over the last quarter. 5.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd. DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. KeyCorp dropped their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and lowered their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler Companies restated an "overweight" rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average price target of $261.75.

AppFolio Stock Performance

APPF stock traded up $5.66 during mid-day trading on Friday, hitting $242.39. 195,553 shares of the company were exchanged, compared to its average volume of 238,626. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market cap of $8.81 billion, a P/E ratio of 67.52 and a beta of 0.83. The firm's 50 day simple moving average is $222.54 and its 200 day simple moving average is $231.07.

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

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.