Summit Global Investments Makes New $759,000 Investment in AppFolio, Inc. (NASDAQ:APPF)

Summit Global Investments acquired a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,225 shares of the software maker's stock, valued at approximately $759,000.

Several other large investors have also bought and sold shares of APPF. Squarepoint Ops LLC boosted its stake in shares of 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 last quarter. Westwind Capital grew its holdings in AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker's stock worth $3,650,000 after acquiring an additional 112,024 shares during the period. Los Angeles Capital Management LLC raised its position in shares of AppFolio by 516.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker's stock worth $26,866,000 after acquiring an additional 92,034 shares in the last quarter. Jackson Square Partners LLC acquired a new position in shares of AppFolio in the 1st quarter valued at about $21,568,000. Finally, Vanguard Group Inc. boosted its position in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker's stock valued at $531,139,000 after purchasing an additional 73,965 shares in the last quarter. 62.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler Companies reissued an "overweight" rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler cut their target price on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. DA Davidson raised their target price on AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AppFolio currently has an average rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Performance

APPF traded down $0.19 during midday trading on Friday, reaching $228.20. 195,392 shares of the company were exchanged, compared to its average volume of 318,012. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 63.57 and a beta of 0.83. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company's fifty day moving average price is $221.31 and its 200 day moving average price is $230.97.

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, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio's revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the sale, the insider now directly owns 39,980 shares of the company's stock, valued at $8,844,375.60. This trade 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 link. Also, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,652 shares of company stock worth $4,053,818. Insiders own 5.24% of the company's stock.

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.