Prudential Financial Inc. Has $7.27 Million Stake in AppFolio Inc (APPF)

Prudential Financial Inc. lessened its stake in shares of AppFolio Inc (NASDAQ:APPF) by 12.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,764 shares of the software maker’s stock after selling 12,819 shares during the quarter. Prudential Financial Inc. owned approximately 0.27% of AppFolio worth $7,273,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in APPF. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of AppFolio during the third quarter valued at approximately $258,000. Ingalls & Snyder LLC purchased a new stake in shares of AppFolio during the third quarter valued at approximately $262,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of AppFolio by 60.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,857 shares of the software maker’s stock valued at $297,000 after purchasing an additional 1,831 shares during the period. Voya Investment Management LLC purchased a new stake in shares of AppFolio during the second quarter valued at approximately $315,000. Finally, Advisory Services Network LLC boosted its stake in shares of AppFolio by 3,961.0% during the third quarter. Advisory Services Network LLC now owns 4,061 shares of the software maker’s stock valued at $318,000 after purchasing an additional 3,961 shares during the period. 30.62% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Jonathan Walker sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $73.03, for a total value of $2,190,900.00. Following the completion of the sale, the insider now owns 30,000 shares of the company’s stock, valued at $2,190,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $63.40, for a total value of $1,268,000.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,268,000. The disclosure for this sale can be found here. Company insiders own 41.96% of the company’s stock.

APPF has been the subject of a number of analyst reports. Zacks Investment Research lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. BidaskClub lowered AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. TheStreet lowered AppFolio from a “b-” rating to a “c+” rating in a research note on Thursday, November 1st. Finally, DA Davidson initiated coverage on AppFolio in a research note on Wednesday. They set a “neutral” rating and a $66.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. AppFolio currently has an average rating of “Hold” and a consensus price target of $69.00.

Shares of APPF stock opened at $60.07 on Friday. AppFolio Inc has a 52 week low of $37.56 and a 52 week high of $91.49. The firm has a market capitalization of $2.08 billion, a P/E ratio of 214.54 and a beta of 1.41.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Monday, October 29th. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). AppFolio had a return on equity of 20.57% and a net margin of 11.20%. The business had revenue of $50.13 million during the quarter, compared to analysts’ expectations of $47.72 million. The firm’s revenue for the quarter was up 32.2% compared to the same quarter last year. As a group, analysts expect that AppFolio Inc will post 0.63 EPS for the current fiscal year.

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AppFolio Profile

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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