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

Arrowstreet Capital Limited Partnership lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.7% in the second quarter, Holdings Channel.com reports. The fund owned 292,771 shares of the software maker’s stock after selling 5,125 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in AppFolio were worth $67,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. United Services Automobile Association bought a new stake in AppFolio in the first quarter worth $311,000. Northern Trust Corp grew its position in AppFolio by 0.8% in the first quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after acquiring an additional 1,493 shares in the last quarter. HighTower Advisors LLC increased its stake in AppFolio by 94.1% during the first quarter. HighTower Advisors LLC now owns 2,882 shares of the software maker’s stock worth $634,000 after acquiring an additional 1,397 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in AppFolio during the second quarter valued at approximately $288,000. Finally, US Bancorp DE lifted its holdings in shares of AppFolio by 2,549.2% in the 1st quarter. US Bancorp DE now owns 1,722 shares of the software maker’s stock worth $379,000 after acquiring an additional 1,657 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other AppFolio news, General Counsel Evan Pickering sold 334 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $243.67, for a total value of $81,385.78. Following the completion of the transaction, the general counsel directly owned 2,969 shares of the company’s stock, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 1,636 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $276.98, for a total transaction of $453,139.28. Following the transaction, the insider directly owned 25,015 shares of the company’s stock, valued at approximately $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,245 shares of company stock worth $4,754,059 over the last ninety days. 4.68% of the stock is owned by corporate insiders.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $235.76 on Friday. The company has a market capitalization of $8.47 billion, a P/E ratio of 42.33 and a beta of 0.80. The company has a 50 day simple moving average of $241.42 and a 200-day simple moving average of $248.88. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04.

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

AppFolio Company 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.