Quadrature Capital Ltd Sells 42,134 Shares of AppFolio, Inc. (NASDAQ:APPF)

Quadrature Capital Ltd cut its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 78.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,419 shares of the software maker’s stock after selling 42,134 shares during the period. Quadrature Capital Ltd’s holdings in AppFolio were worth $2,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. USA Financial Formulas bought a new stake in AppFolio in the fourth quarter valued at $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in AppFolio in the fourth quarter valued at $64,000. Meeder Asset Management Inc. bought a new stake in AppFolio in the fourth quarter valued at $85,000. Finally, Headlands Technologies LLC bought a new stake in AppFolio in the fourth quarter valued at $85,000. 62.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the transaction, the director now owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppFolio news, Director Blottnitz Andreas Von sold 5,111 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $240.24, for a total value of $1,227,866.64. Following the transaction, the director now owns 8,838 shares of the company’s stock, valued at $2,123,241.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $250.26, for a total value of $2,502,600.00. Following the completion of the transaction, the director now directly owns 182,584 shares in the company, valued at approximately $45,693,471.84. The disclosure for this sale can be found here. Insiders have sold 130,444 shares of company stock valued at $31,124,559 over the last 90 days. 9.15% of the stock is owned by company insiders.

AppFolio Trading Down 10.9 %

Shares of APPF traded down $28.12 during trading hours on Friday, hitting $230.95. 718,990 shares of the stock traded hands, compared to its average volume of 377,063. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market capitalization of $8.36 billion, a PE ratio of 111.57 and a beta of 0.80. The business has a fifty day moving average of $242.53 and a 200-day moving average of $231.18.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 29.03% and a net margin of 17.32%. The business had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, equities research analysts expect that AppFolio, Inc. will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of analyst reports. Piper Sandler upped their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp upped their price target on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Friday. Stephens reiterated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Finally, DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.75.

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.