Martingale Asset Management L P Has $1.79 Million Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Martingale Asset Management L P lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 36.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,581 shares of the software maker’s stock after selling 4,436 shares during the period. Martingale Asset Management L P’s holdings in AppFolio were worth $1,785,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest & Ethical Investments L.P. grew its position in shares of AppFolio by 16.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock valued at $171,000 after purchasing an additional 100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AppFolio by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,717 shares of the software maker’s stock valued at $27,711,000 after buying an additional 841 shares in the last quarter. MetLife Investment Management LLC grew its holdings in AppFolio by 6.8% in the 3rd quarter. MetLife Investment Management LLC now owns 12,917 shares of the software maker’s stock valued at $3,041,000 after buying an additional 828 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of AppFolio in the third quarter valued at about $259,000. Finally, Bridgewater Associates LP grew its stake in shares of AppFolio by 15.0% in the third quarter. Bridgewater Associates LP now owns 75,145 shares of the software maker’s stock valued at $17,689,000 after acquiring an additional 9,795 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Performance

Shares of APPF stock opened at $253.75 on Monday. The stock’s fifty day moving average price is $225.24 and its two-hundred day moving average price is $231.17. The company has a market cap of $9.22 billion, a PE ratio of 70.68 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now directly owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,461 shares of company stock worth $5,766,272. Corporate insiders own 5.24% of the company’s stock.

Analysts Set New Price Targets

APPF has been the topic of several research reports. Piper Sandler decreased their price target 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. KeyCorp decreased their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $255.00 to $193.00 in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio 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.