AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP trimmed its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 29.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,534 shares of the software maker’s stock after selling 629 shares during the period. Aigen Investment Management LP’s holdings in AppFolio were worth $361,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. American International Group Inc. lifted its position in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after purchasing an additional 26,815 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of AppFolio by 223.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after buying an additional 4,445 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of AppFolio during the 1st quarter valued at about $839,000. Lazard Asset Management LLC lifted its holdings in shares of AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after buying an additional 8,128 shares during the period. Finally, M&G Plc purchased a new stake in shares of AppFolio in the first quarter worth about $8,887,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Price Performance

Shares of AppFolio stock opened at $233.36 on Friday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 65.00 and a beta of 0.83. The business has a 50 day simple moving average of $221.72 and a two-hundred day simple moving average of $231.18. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. As a group, research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on APPF shares. DA Davidson lifted their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler dropped their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp dropped their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

Insider Transactions at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 200 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the sale, the insider now directly owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,706 shares of company stock valued at $2,974,748. Corporate insiders own 5.24% of the company’s stock.

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.