MetLife Investment Management LLC Has $3.04 Million Holdings in AppFolio, Inc. (NASDAQ:APPF)

MetLife Investment Management LLC increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,917 shares of the software maker’s stock after buying an additional 828 shares during the quarter. MetLife Investment Management LLC’s holdings in AppFolio were worth $3,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted 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 buying an additional 54 shares during the period. GAMMA Investing LLC lifted 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 buying an additional 112 shares during the period. CWM LLC lifted 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 buying an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 186 shares during the period. Finally, Quarry LP lifted its position in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the period. Institutional investors own 62.34% of the company’s stock.

AppFolio Stock Performance

NASDAQ APPF opened at $261.58 on Wednesday. The stock has a fifty day moving average of $225.64 and a 200-day moving average of $231.10. The stock has a market capitalization of $9.50 billion, a P/E ratio of 72.86 and a beta of 0.86. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. Equities research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPF has been the subject of several analyst reports. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. 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. According to MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Buying and Selling

In related news, Director Scanlan Agnes Bundy sold 500 shares of AppFolio stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. The trade was a 8.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the sale, the insider now directly owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,961 shares of company stock valued at $5,893,982 over the last three months. Company insiders own 5.24% of the company’s stock.

About AppFolio

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.