Baker Avenue Asset Management LP Has $3.79 Million Stock Holdings in AppFolio, Inc. $APPF

Baker Avenue Asset Management LP trimmed its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 26.5% in the second quarter, HoldingsChannel.com reports. The fund owned 16,437 shares of the software maker’s stock after selling 5,925 shares during the quarter. Baker Avenue Asset Management LP’s holdings in AppFolio were worth $3,785,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of APPF. Cetera Investment Advisers acquired a new position in AppFolio in the first quarter valued at about $404,000. LPL Financial LLC raised its position in shares of AppFolio by 131.1% in the 1st quarter. LPL Financial LLC now owns 10,279 shares of the software maker’s stock valued at $2,231,000 after buying an additional 5,832 shares in the last quarter. US Bancorp DE lifted its holdings in shares of AppFolio by 2,549.2% during 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 period. PNC Financial Services Group Inc. boosted its position in shares of AppFolio by 21.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,857 shares of the software maker’s stock worth $408,000 after acquiring an additional 328 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of AppFolio by 3.3% during the 1st quarter. Deutsche Bank AG now owns 2,362 shares of the software maker’s stock worth $519,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the sale, the chief executive officer owned 59,556 shares of the company’s stock, valued at $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 1,636 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $276.98, for a total value of $453,139.28. Following the completion of the sale, the insider owned 25,015 shares of the company’s stock, valued at $6,928,654.70. The trade was a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 15,745 shares of company stock valued at $4,041,459. Insiders own 4.68% of the company’s stock.

Analysts Set New Price Targets

APPF has been the subject of several research analyst reports. Weiss Ratings upgraded shares of AppFolio from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, December 2nd. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target for the company in a report on Friday, October 24th. KeyCorp dropped their price objective on AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $325.00 price objective on shares of AppFolio in a research note on Wednesday, November 19th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $310.20.

AppFolio Trading Down 1.2%

Shares of APPF stock opened at $232.57 on Tuesday. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 41.75 and a beta of 0.80. The business’s 50-day moving average price is $239.56 and its 200-day moving average price is $249.75. AppFolio, Inc. has a 12 month low of $190.24 and a 12 month high of $326.04.

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