AppFolio, Inc. $APPF Stock Position Lowered by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its position in AppFolio, Inc. (NASDAQ:APPF) by 66.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,650 shares of the software maker’s stock after selling 19,110 shares during the period. Jupiter Asset Management Ltd.’s holdings in AppFolio were worth $2,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock valued at $248,000 after purchasing an additional 37 shares in the last quarter. Truist Financial Corp raised its position in AppFolio by 1.1% during the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after buying an additional 43 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in AppFolio by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after acquiring an additional 44 shares in the last quarter. Amalgamated Bank boosted its position in AppFolio by 0.4% during the 3rd quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after acquiring an additional 46 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its position in AppFolio by 3.1% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock worth $418,000 after acquiring an additional 46 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the sale, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. This represents a 11.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Mathias Eaton sold 517 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the transaction, the chief financial officer directly owned 10,104 shares in the company, valued at $2,307,147.36. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.68% of the stock is owned by insiders.

AppFolio Stock Down 2.4%

Shares of APPF opened at $172.23 on Friday. The company’s fifty day moving average is $211.74 and its 200-day moving average is $240.13. AppFolio, Inc. has a 12 month low of $166.36 and a 12 month high of $326.04. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 44.39 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.17. The business had revenue of $248.19 million during the quarter, compared to analyst estimates of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. AppFolio’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the subject of a number of research analyst reports. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. UBS Group set a $260.00 target price on shares of AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Piper Sandler dropped their price target on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average target price of $270.83.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.