Acadian Asset Management LLC Sells 4,124 Shares of AppFolio, Inc. (NASDAQ:APPF)

Acadian Asset Management LLC decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 76.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,251 shares of the software maker’s stock after selling 4,124 shares during the quarter. Acadian Asset Management LLC’s holdings in AppFolio were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DF Dent & Co. Inc. grew its holdings in shares of AppFolio by 138.7% in the 1st quarter. DF Dent & Co. Inc. now owns 379,806 shares of the software maker’s stock valued at $47,278,000 after buying an additional 220,680 shares during the period. LPL Financial LLC increased its holdings in shares of AppFolio by 6.4% in the second quarter. LPL Financial LLC now owns 6,669 shares of the software maker’s stock worth $1,148,000 after acquiring an additional 399 shares in the last quarter. Curbstone Financial Management Corp acquired a new stake in shares of AppFolio during the second quarter worth about $441,000. Allspring Global Investments Holdings LLC grew its position in shares of AppFolio by 868.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,801 shares of the software maker’s stock valued at $2,031,000 after purchasing an additional 10,582 shares during the period. Finally, Nellore Capital Management LLC increased its stake in AppFolio by 1.2% during the 1st quarter. Nellore Capital Management LLC now owns 177,337 shares of the software maker’s stock worth $22,075,000 after purchasing an additional 2,057 shares in the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of AppFolio in a research note on Thursday, August 17th. They issued an “overweight” rating and a $200.00 price target on the stock. KeyCorp upped their target price on shares of AppFolio from $210.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Stephens raised AppFolio from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $184.00 to $212.00 in a research note on Monday, August 21st. William Blair upgraded AppFolio from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. Finally, StockNews.com upgraded AppFolio from a “hold” rating to a “buy” rating in a report on Friday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Buy” and an average target price of $218.75.

AppFolio Trading Up 0.6 %

Shares of APPF stock opened at $200.56 on Monday. The firm’s fifty day moving average price is $187.08 and its two-hundred day moving average price is $175.46. AppFolio, Inc. has a 1 year low of $100.20 and a 1 year high of $211.41. The firm has a market capitalization of $7.17 billion, a P/E ratio of -147.47 and a beta of 0.85.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 26th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. AppFolio had a negative return on equity of 25.82% and a negative net margin of 8.25%. The business had revenue of $165.44 million for the quarter, compared to the consensus estimate of $156.46 million. As a group, equities research analysts forecast that AppFolio, Inc. will post 0.09 EPS for the current fiscal year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.