Blueshift Asset Management LLC Invests $259,000 in AppFolio, Inc. (NASDAQ:APPF)

Blueshift Asset Management LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,102 shares of the software maker’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of APPF. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% during the 2nd 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 last quarter. CWM LLC boosted its position in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its stake in AppFolio by 291.3% in the 1st 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after acquiring an additional 186 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,700 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $234.05, for a total value of $631,935.00. Following the completion of the sale, the insider now directly owns 14,716 shares of the company’s stock, valued at $3,444,279.80. The trade was a 15.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,461 shares of company stock worth $5,766,272. 5.24% of the stock is owned by insiders.

AppFolio Trading Down 0.2 %

NASDAQ APPF opened at $254.82 on Friday. The company has a market capitalization of $9.26 billion, a PE ratio of 70.98 and a beta of 0.83. The business’s 50-day moving average price is $224.38 and its 200 day moving average price is $231.08. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

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