Sanctuary Advisors LLC Invests $687,000 in AppFolio, Inc. (NASDAQ:APPF)

Sanctuary Advisors LLC purchased a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,833 shares of the software maker's stock, valued at approximately $687,000.

A number of other large investors have also made changes to their positions in the business. Blue Trust Inc. boosted its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after purchasing an additional 54 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after buying an additional 186 shares during the period. Quarry LP grew its holdings in shares of AppFolio by 147.9% during the second 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. True Wealth Design LLC purchased a new stake in shares of AppFolio during the third quarter valued at $79,000. Finally, Advisors Asset Management Inc. increased its position in shares of AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock valued at $92,000 after acquiring an additional 141 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,510 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $229.21, for a total transaction of $575,317.10. Following the transaction, the insider now owns 2,459 shares in the company, valued at $563,627.39. This trade represents a 50.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the sale, the insider now directly owns 28,266 shares in the company, valued at $6,677,559.84. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,768 shares of company stock valued at $5,744,891. Corporate insiders own 5.24% of the company's stock.

AppFolio Stock Performance

AppFolio stock traded up $3.62 during midday trading on Wednesday, hitting $252.67. 50,878 shares of the company were exchanged, compared to its average volume of 267,491. The business has a fifty day simple moving average of $236.53 and a two-hundred day simple moving average of $234.15. The firm has a market capitalization of $9.18 billion, a PE ratio of 70.38 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two 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 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million for the quarter, compared to analysts' expectations of $199.11 million. During the same quarter last year, the company earned $0.26 EPS. The business's revenue was up 24.5% on a year-over-year basis. As a group, equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on APPF. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, KeyCorp cut their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $261.75.

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.