Arrowstreet Capital Limited Partnership Sells 5,125 Shares of AppFolio, Inc. $APPF

Arrowstreet Capital Limited Partnership cut its position in AppFolio, Inc. (NASDAQ:APPF) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,771 shares of the software maker’s stock after selling 5,125 shares during the period. Arrowstreet Capital Limited Partnership owned 0.82% of AppFolio worth $67,419,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Huntington National Bank boosted its holdings in shares of AppFolio by 58.7% in the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of AppFolio in the second quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd bought a new stake in AppFolio during the first quarter valued at $55,000. Elevation Point Wealth Partners LLC purchased a new stake in AppFolio in the second quarter valued at approximately $55,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the topic of a number of research analyst reports. KeyCorp reduced their price objective on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings raised shares of AppFolio from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target for the company in a research note on Friday, October 24th. Finally, DA Davidson restated a “buy” rating and issued a $325.00 target price on shares of AppFolio in a research note on Wednesday, November 19th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $310.20.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,947 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the sale, the chief executive officer owned 51,530 shares in the company, valued at approximately $12,390,388.50. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Evan Pickering sold 334 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $243.67, for a total transaction of $81,385.78. Following the transaction, the general counsel directly owned 2,969 shares in the company, valued at approximately $723,456.23. The trade was a 10.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,245 shares of company stock worth $4,754,059. Corporate insiders own 4.68% of the company’s stock.

AppFolio Stock Down 0.3%

Shares of NASDAQ:APPF opened at $235.76 on Friday. AppFolio, Inc. has a fifty-two week low of $190.24 and a fifty-two week high of $326.04. The firm’s 50-day simple moving average is $241.42 and its 200-day simple moving average is $248.88. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 42.33 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). The firm had revenue of $249.35 million for the quarter, compared to analyst estimates of $245.39 million. AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio 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.