Bayesian Capital Management LP Sells 5,200 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bayesian Capital Management LP reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 57.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,925 shares of the software maker’s stock after selling 5,200 shares during the period. Bayesian Capital Management LP’s holdings in AppFolio were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares in the last quarter. USA Financial Formulas purchased a new stake in AppFolio during the fourth quarter valued at approximately $59,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AppFolio during the fourth quarter valued at approximately $64,000. Headlands Technologies LLC bought a new stake in shares of AppFolio in the 4th quarter valued at approximately $85,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of AppFolio in the 4th quarter worth approximately $85,000. 62.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Piper Sandler raised their price target on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com raised AppFolio from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Stephens reiterated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a research report on Friday, April 26th. Finally, DA Davidson upped their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.75.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 11,627 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the transaction, the insider now directly owns 27,768 shares in the company, valued at $6,666,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 11,627 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the transaction, the insider now owns 27,768 shares in the company, valued at approximately $6,666,541.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the sale, the insider now directly owns 55,000 shares in the company, valued at $12,716,000. The disclosure for this sale can be found here. Insiders sold a total of 142,271 shares of company stock worth $33,962,473 over the last 90 days. Company insiders own 9.15% of the company’s stock.

AppFolio Stock Up 1.8 %

Shares of APPF stock traded up $3.93 on Wednesday, hitting $223.46. The stock had a trading volume of 901 shares, compared to its average volume of 305,680. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The business has a 50 day moving average price of $241.87 and a 200 day moving average price of $232.18. The company has a market cap of $8.09 billion, a PE ratio of 106.05 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts expect that AppFolio, Inc. will post 2.89 EPS for the current year.

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.