PEAK6 Investments LLC Reduces Stock Position in AppFolio, Inc. (NASDAQ:APPF)

PEAK6 Investments LLC trimmed its position in AppFolio, Inc. (NASDAQ:APPF) by 51.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,697 shares of the software maker’s stock after selling 1,823 shares during the period. PEAK6 Investments LLC’s holdings in AppFolio were worth $399,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the period. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC grew its position in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the last quarter. Finally, Quarry LP lifted its position in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares during the period. 62.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 value of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scanlan Agnes Bundy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total value of $127,710.00. Following the sale, the director now owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. This trade represents a 8.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,961 shares of company stock valued at $5,893,982. Corporate insiders own 5.24% of the company’s stock.

AppFolio Trading Up 2.2 %

NASDAQ:APPF opened at $261.58 on Wednesday. The firm’s fifty day simple moving average is $225.64 and its 200 day simple moving average is $231.10. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 72.86 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. On average, analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

AppFolio Company 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.