Covestor Ltd Acquires 307 Shares of AppFolio, Inc. (NASDAQ:APPF)

Covestor Ltd increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 62.4% in the 3rd quarter, Holdings Channel reports. The fund owned 799 shares of the software maker’s stock after buying an additional 307 shares during the quarter. Covestor Ltd’s holdings in AppFolio were worth $188,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APPF. Assetmark Inc. raised its stake in AppFolio by 649.5% during the third quarter. Assetmark Inc. now owns 2,391 shares of the software maker’s stock valued at $563,000 after buying an additional 2,072 shares during the last quarter. Verdence Capital Advisors LLC grew its position in AppFolio by 17.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,142 shares of the software maker’s stock valued at $504,000 after purchasing an additional 320 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in AppFolio during the 3rd quarter valued at about $156,000. Summit Global Investments purchased a new position in AppFolio in the third quarter worth about $759,000. Finally, Lewis Asset Management LLC lifted its stake in shares of AppFolio by 10.2% in the third quarter. Lewis Asset Management LLC now owns 1,328 shares of the software maker’s stock worth $313,000 after buying an additional 123 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Maurice J. Duca sold 1,296 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the sale, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 2,371 shares of the company’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 completion of the transaction, the insider now directly owns 39,980 shares of the company’s stock, valued at $8,844,375.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock worth $4,053,818 over the last quarter. 5.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. KeyCorp reduced their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler decreased their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Trading Down 0.1 %

APPF opened at $228.20 on Monday. The company’s 50 day moving average is $221.31 and its 200 day moving average is $231.07. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 63.57 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. As a group, analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

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.