AppFolio, Inc. (NASDAQ:APPF) Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 413,032 shares of the software maker’s stock after acquiring an additional 32,743 shares during the quarter. Geode Capital Management LLC’s holdings in AppFolio were worth $97,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APPF. Blue Trust Inc. boosted its stake in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. CWM LLC lifted its holdings in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares in the last quarter. Quarry LP grew its holdings in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the period. Finally, True Wealth Design LLC bought a new stake in AppFolio in the third quarter worth about $79,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

AppFolio stock opened at $251.35 on Thursday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 70.01 and a beta of 0.86. The company has a 50 day moving average price of $232.98 and a 200 day moving average price of $233.38.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The business 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%. AppFolio’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Equities analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the transaction, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scanlan Agnes Bundy sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the transaction, the director now owns 5,416 shares in the company, valued at approximately $1,383,354.72. This represents a 8.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,606 shares of company stock valued at $7,117,857 in the last 90 days. 5.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp decreased their price target 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 cut AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Piper Sandler reduced their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.