Y Intercept Hong Kong Ltd Reduces Stake in AppFolio, Inc. (NASDAQ:APPF)

Y Intercept Hong Kong Ltd lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 76.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,987 shares of the software maker's stock after selling 12,842 shares during the period. Y Intercept Hong Kong Ltd's holdings in AppFolio were worth $939,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after buying an additional 54 shares during the period. CWM LLC grew its holdings in AppFolio by 238.6% in the second 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. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. Quarry LP raised 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 purchasing an additional 142 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of AppFolio during the 3rd quarter worth about $79,000. Institutional investors own 85.19% of the company's stock.

AppFolio Price Performance

Shares of NASDAQ APPF traded down $4.37 during trading on Friday, hitting $259.18. The stock had a trading volume of 150,414 shares, compared to its average volume of 269,447. The firm has a fifty day moving average of $230.30 and a two-hundred day moving average of $232.57. The company has a market capitalization of $9.42 billion, a PE ratio of 73.41 and a beta of 0.86. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month 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 earnings per share (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 during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the firm posted $0.26 EPS. The firm's quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Maurice J. Duca sold 200 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the transaction, the insider now owns 18,922 shares in the company, valued at approximately $4,393,309.96. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the business's stock in a transaction 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 sale, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,806 shares of company stock valued at $7,164,293 in the last ninety days. 5.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research reports. Keefe, Bruyette & Woods downgraded AppFolio from a "market perform" rating to an "underperform" rating and dropped their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler reduced their price target on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. StockNews.com downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. Finally, KeyCorp reduced their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 25th. 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.