Claro Advisors LLC Invests $252,000 in AppFolio, Inc. (NASDAQ:APPF)

Claro Advisors LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,069 shares of the software maker’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of AppFolio by 200.8% during the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock worth $356,000 after purchasing an additional 964 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in AppFolio in the 1st quarter valued at about $306,000. State Board of Administration of Florida Retirement System increased its position in AppFolio by 17.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,456 shares of the software maker’s stock valued at $1,593,000 after acquiring an additional 970 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of AppFolio stock opened at $228.55 on Wednesday. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The business’s 50 day simple moving average is $222.16 and its 200 day simple moving average is $231.04. The firm has a market cap of $8.30 billion, a PE ratio of 63.66 and a beta of 0.83.

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 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. As a group, equities research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Maurice J. Duca sold 2,968 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the transaction, the insider now directly owns 24,500 shares in the company, valued at approximately $5,754,315. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,296 shares of company stock worth $4,981,684. Insiders own 5.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on APPF. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler reduced their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

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.