Harbor Capital Advisors Inc. Purchases 287 Shares of AppFolio, Inc. (NASDAQ:APPF)

Harbor Capital Advisors Inc. grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,374 shares of the software maker’s stock after buying an additional 287 shares during the period. Harbor Capital Advisors Inc.’s holdings in AppFolio were worth $825,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of APPF. GAMMA Investing LLC increased its holdings in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the period. Advisors Asset Management Inc. increased its position in shares of AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after acquiring an additional 134 shares during the period. USA Financial Formulas bought a new position in shares of AppFolio during the fourth quarter valued at about $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of AppFolio during the fourth quarter valued at about $64,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of AppFolio during the fourth quarter worth about $85,000. 62.34% of the stock is currently owned by institutional investors.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $231.20, for a total transaction of $485,520.00. Following the transaction, the insider now directly owns 55,000 shares in the company, valued at $12,716,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the sale, the insider now directly owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Klaus Schauser sold 1,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $270.00, for a total transaction of $270,000.00. Following the sale, the insider now owns 403,000 shares of the company’s stock, valued at approximately $108,810,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,271 shares of company stock worth $33,962,473. Insiders own 9.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on APPF. 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, July 26th. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com raised AppFolio from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Trading Up 1.8 %

Shares of AppFolio stock traded up $3.73 on Wednesday, hitting $211.82. 161,998 shares of the company traded hands, compared to its average volume of 306,175. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The company has a market cap of $7.67 billion, a PE ratio of 100.53 and a beta of 0.81. The stock’s 50 day moving average price is $239.75 and its 200-day moving average price is $233.41.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, beating the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.53) EPS. As a group, research analysts anticipate that AppFolio, Inc. will post 2.99 EPS 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.