AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in AppFolio, Inc. (NASDAQ:APPF) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,278 shares of the software maker’s stock after acquiring an additional 5,077 shares during the quarter. JPMorgan Chase & Co. owned 0.44% of AppFolio worth $37,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC lifted its stake in shares of AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Squarepoint Ops LLC increased its holdings in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in AppFolio by 516.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after purchasing an additional 92,034 shares in the last quarter. FMR LLC raised its position in AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after purchasing an additional 55,348 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on APPF shares. KeyCorp dropped their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler reduced their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 700 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is currently owned by insiders.

AppFolio Stock Performance

NASDAQ:APPF opened at $252.72 on Monday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 70.40 and a beta of 0.87. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The stock has a 50-day simple moving average of $243.37 and a 200 day simple moving average of $234.95.

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

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.