Commonwealth Equity Services LLC Sells 857 Shares of AppFolio, Inc. (NASDAQ:APPF)

Commonwealth Equity Services LLC lessened its holdings in AppFolio, Inc. (NASDAQ:APPFFree Report) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,818 shares of the software maker’s stock after selling 857 shares during the quarter. Commonwealth Equity Services LLC’s holdings in AppFolio were worth $695,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of APPF. Zeno Equity Partners LLP acquired a new stake in shares of AppFolio in the 4th quarter valued at $30,000. USA Financial Formulas acquired a new stake in shares of AppFolio in the 4th quarter valued at $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of AppFolio in the 4th quarter valued at $64,000. Meeder Asset Management Inc. acquired a new stake in shares of AppFolio in the 4th quarter valued at $85,000. Finally, Headlands Technologies LLC acquired a new stake in shares of AppFolio in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,100 shares of AppFolio stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the transaction, the insider now directly owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the sale, the insider now directly owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the sale, the insider now directly owns 7,100 shares of the company’s stock, valued at $1,795,022. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,982 shares of company stock valued at $29,429,129. Corporate insiders own 9.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. KeyCorp raised their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Piper Sandler initiated coverage on AppFolio in a report on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.71.

Get Our Latest Analysis on AppFolio

AppFolio Stock Down 0.4 %

Shares of NASDAQ:APPF opened at $247.96 on Thursday. The firm has a market cap of $8.98 billion, a P/E ratio of 119.79 and a beta of 0.80. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $256.73. The business has a fifty day simple moving average of $239.02 and a 200 day simple moving average of $223.74.

AppFolio (NASDAQ:APPFGet Free Report) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The business had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. As a group, equities research analysts expect that AppFolio, Inc. will post 2.85 EPS for the current year.

AppFolio Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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