Martingale Asset Management L P Has $1.79 Million Holdings in AppFolio, Inc. (NASDAQ:APPF)

Martingale Asset Management L P reduced its holdings in AppFolio, Inc. (NASDAQ:APPF) by 36.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,581 shares of the software maker’s stock after selling 4,436 shares during the period. Martingale Asset Management L P’s holdings in AppFolio were worth $1,785,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of APPF. Brighton Jones LLC raised its position in shares of AppFolio by 0.9% in the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after acquiring an additional 49 shares during the period. Blue Trust Inc. raised its holdings in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in AppFolio by 16.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after purchasing an additional 100 shares during the period. ProShare Advisors LLC raised its holdings in AppFolio by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after purchasing an additional 102 shares during the period. Finally, CWM LLC raised its stake in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the period. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Trading Down 0.4 %

Shares of APPF stock opened at $253.75 on Monday. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm’s fifty day moving average price is $225.24 and its two-hundred day moving average price is $231.17. The firm has a market capitalization of $9.22 billion, a P/E ratio of 70.68 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 2,577 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $250.75, for a total transaction of $646,182.75. Following the transaction, the insider now directly owns 2,875 shares in the company, valued at $720,906.25. The trade was a 47.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,461 shares of company stock valued at $5,766,272 in the last 90 days. 5.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp dropped their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler dropped their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

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.