AppFolio, Inc. (NASDAQ:APPF) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 69,350 shares of the software maker's stock after selling 19,314 shares during the quarter. WCM Investment Management LLC owned 0.19% of AppFolio worth $16,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised 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 worth $29,000 after acquiring an additional 54 shares during the last quarter. GAMMA Investing LLC grew its position in AppFolio by 589.5% during 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 during the period. Advisors Asset Management Inc. boosted its position in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock valued at $44,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after acquiring an additional 186 shares during the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of APPF stock traded up $1.79 during trading hours on Tuesday, hitting $235.26. 160,348 shares of the company were exchanged, compared to its average volume of 279,022. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 65.03 and a beta of 0.83. The business's 50-day simple moving average is $221.34 and its two-hundred day simple moving average is $231.19. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share 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 company had revenue of $206.00 million during the quarter, compared to analysts' expectations of $199.11 million. During the same period in the prior year, the business earned $0.26 earnings per share. AppFolio's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

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 transaction of $524,512.62. Following the transaction, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppFolio 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 transaction of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares of the company's stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares in the company, valued at $8,844,375.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,652 shares of company stock valued at $4,053,818. 5.24% of the stock is owned by company insiders.

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.