Vanguard Group Inc. Increases Holdings in AppFolio, Inc. (APPF)
Vanguard Group Inc. raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 18.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 455,942 shares of the software maker’s stock after buying an additional 69,664 shares during the quarter. Vanguard Group Inc. owned about 1.35% of AppFolio worth $14,864,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in AppFolio by 50,928.6% in the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after buying an additional 3,565 shares in the last quarter. American International Group Inc. lifted its stake in AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares in the last quarter. UBS Group AG lifted its stake in AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after buying an additional 3,629 shares in the last quarter. Russell Investments Group Ltd. bought a new position in AppFolio in the second quarter valued at approximately $178,000. Finally, First Quadrant L P CA bought a new position in AppFolio in the second quarter valued at approximately $225,000. 22.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Janet Kerr sold 1,576 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $43.08, for a total value of $67,894.08. Following the sale, the director now owns 17,189 shares of the company’s stock, valued at $740,502.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Walker sold 30,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total transaction of $1,337,400.00. Following the completion of the sale, the insider now directly owns 1,554,025 shares in the company, valued at approximately $69,278,434.50. The disclosure for this sale can be found here. Insiders own 44.77% of the company’s stock.
Shares of AppFolio, Inc. (NASDAQ:APPF) opened at $43.65 on Friday. The company has a market cap of $1,481.74, a price-to-earnings ratio of 272.81 and a beta of 0.70. AppFolio, Inc. has a 1 year low of $20.46 and a 1 year high of $52.25.
AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The business had revenue of $37.90 million for the quarter, compared to analyst estimates of $36.16 million. AppFolio had a net margin of 4.37% and a return on equity of 7.91%. The business’s quarterly revenue was up 34.6% on a year-over-year basis. equities analysts anticipate that AppFolio, Inc. will post 0.25 earnings per share for the current fiscal year.
A number of research analysts have weighed in on APPF shares. Zacks Investment Research lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. KeyCorp reaffirmed a “hold” rating on shares of AppFolio in a research note on Monday, November 6th. BidaskClub lowered shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Morgan Stanley lifted their price target on shares of AppFolio from $38.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. AppFolio presently has an average rating of “Buy” and a consensus target price of $43.00.
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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