Capital Performance Advisors LLP Purchases New Stake in AppFolio, Inc. (NASDAQ:APPF)

Capital Performance Advisors LLP acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 662 shares of the software maker’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Summit Global Investments acquired a new position in AppFolio in the third quarter worth about $759,000. Lewis Asset Management LLC grew its position in shares of AppFolio by 10.2% in the 3rd quarter. Lewis Asset Management LLC now owns 1,328 shares of the software maker’s stock worth $313,000 after acquiring an additional 123 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of AppFolio by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after acquiring an additional 24,697 shares during the last quarter. Amalgamated Bank raised its position in shares of AppFolio by 2.7% during the 3rd quarter. Amalgamated Bank now owns 11,236 shares of the software maker’s stock valued at $2,645,000 after acquiring an additional 291 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of AppFolio during the 3rd quarter valued at approximately $2,467,000. Institutional investors own 62.34% of the company’s stock.

AppFolio Price Performance

APPF stock traded down $1.88 on Friday, reaching $226.51. The company’s stock had a trading volume of 43,405 shares, compared to its average volume of 279,050. The firm has a fifty day moving average of $221.39 and a two-hundred day moving average of $230.79. The company has a market capitalization of $8.23 billion, a P/E ratio of 63.62 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, equities analysts expect that AppFolio, Inc. will post 3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler lowered their price objective 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. KeyCorp cut their target price 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. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 2,371 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 39,980 shares of the company’s stock, valued at $8,844,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the business’s 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 sale, the insider now directly owns 39,980 shares in the company, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders sold 17,652 shares of company stock valued at $4,053,818. Company insiders own 5.24% of the company’s stock.

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.