AMI Asset Management Corp Cuts Holdings in AppFolio, Inc. (NASDAQ:APPF)

AMI Asset Management Corp decreased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,458 shares of the software maker’s stock after selling 330 shares during the period. AMI Asset Management Corp’s holdings in AppFolio were worth $1,285,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Blue Trust Inc. boosted 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 acquiring an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares in the last quarter. CWM LLC boosted its position in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Up 2.9 %

APPF opened at $216.39 on Wednesday. The firm has a market capitalization of $7.84 billion, a P/E ratio of 104.54 and a beta of 0.81. The firm’s 50 day moving average is $223.24 and its 200-day moving average is $230.87. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.04 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. DA Davidson upped their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. KeyCorp decreased their target price on 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 target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on 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 owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Maurice J. Duca sold 2,968 shares of AppFolio stock in a transaction on Monday, August 26th. The stock was sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the transaction, the insider now directly owns 24,500 shares of the company’s stock, valued at approximately $5,754,315. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,652 shares of company stock valued at $4,053,818. 9.15% of the stock is currently owned by corporate insiders.

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.