AppFolio, Inc. $APPF Stock Position Raised by Riverbridge Partners LLC

Riverbridge Partners LLC raised its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,386 shares of the software maker’s stock after purchasing an additional 3,549 shares during the quarter. Riverbridge Partners LLC owned 0.15% of AppFolio worth $10,906,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APPF. Seven Mile Advisory raised its position in shares of AppFolio by 3.3% during the 3rd quarter. Seven Mile Advisory now owns 1,666 shares of the software maker’s stock valued at $334,000 after purchasing an additional 54 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of AppFolio by 0.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 9,168 shares of the software maker’s stock valued at $1,838,000 after buying an additional 63 shares in the last quarter. Parallel Advisors LLC boosted its holdings in AppFolio by 8.5% in the 3rd quarter. Parallel Advisors LLC now owns 854 shares of the software maker’s stock worth $171,000 after buying an additional 67 shares during the period. Versant Capital Management Inc boosted its holdings in AppFolio by 18.6% in the 3rd quarter. Versant Capital Management Inc now owns 536 shares of the software maker’s stock worth $107,000 after buying an additional 84 shares during the period. Finally, AMI Asset Management Corp boosted its holdings in AppFolio by 2.4% in the 3rd quarter. AMI Asset Management Corp now owns 4,057 shares of the software maker’s stock worth $814,000 after buying an additional 94 shares during the period. 85.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AppFolio in a research note on Wednesday, November 4th. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Wednesday, October 14th. DA Davidson upped their price objective on AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Guggenheim increased their target price on AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

AppFolio Stock Performance

APPF stock opened at $224.76 on Wednesday. AppFolio, Inc. has a one year low of $142.56 and a one year high of $256.86. The company’s fifty day moving average price is $212.29 and its 200-day moving average price is $184.27. The company has a market capitalization of $7.97 billion, a PE ratio of 47.42 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.03. The firm had revenue of $295.69 million during the quarter, compared to analyst estimates of $294.46 million. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. AppFolio’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, research analysts predict that AppFolio, Inc. will post 5.18 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Eaton sold 373 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $202.61, for a total transaction of $75,573.53. Following the completion of the transaction, the chief financial officer owned 16,714 shares in the company, valued at $3,386,423.54. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 1,600 shares of AppFolio stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $240.14, for a total value of $384,224.00. Following the completion of the sale, the insider directly owned 27,205 shares in the company, valued at $6,533,008.70. This trade represents a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 66,743 shares of company stock worth $14,070,831. Corporate insiders own 1.57% of the company’s stock.

About AppFolio

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.