Linden Thomas Advisory Services LLC Acquires Shares of 841 AppFolio, Inc. (NASDAQ:APPF)

Linden Thomas Advisory Services LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 841 shares of the software maker’s stock, valued at approximately $206,000.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of AppFolio by 497.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after purchasing an additional 36,265 shares during the last quarter. American International Group Inc. raised its stake in shares of AppFolio by 280.7% in the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the last quarter. Texas Permanent School Fund Corp purchased a new position in shares of AppFolio in the first quarter worth $4,415,000. Oberndorf William E purchased a new position in shares of AppFolio in the fourth quarter worth $3,020,000. Finally, WCM Investment Management LLC purchased a new position in shares of AppFolio in the fourth quarter worth $12,941,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $249.46, for a total transaction of $531,599.26. Following the sale, the insider now owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the 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 sale, the director now owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $249.46, for a total value of $531,599.26. Following the sale, the insider now owns 43,680 shares of the company’s stock, valued at approximately $10,896,412.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,271 shares of company stock valued at $33,962,473. 9.15% of the stock is currently owned by corporate insiders.

AppFolio Trading Up 1.3 %

Shares of NASDAQ:APPF traded up $2.83 during mid-day trading on Thursday, reaching $214.54. The stock had a trading volume of 75,427 shares, compared to its average volume of 305,606. The company has a market cap of $7.77 billion, a P/E ratio of 102.28 and a beta of 0.81. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The business’s 50 day moving average price is $239.38 and its 200 day moving average price is $233.26.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. AppFolio’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. Analysts predict that AppFolio, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPF has been the subject of several recent analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. KeyCorp boosted their price target on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com raised AppFolio from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their price objective on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average target price of $277.75.

AppFolio 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.