AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by Miura Global Management LLC

Miura Global Management LLC raised its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the software maker’s stock after buying an additional 1,000 shares during the period. AppFolio comprises 5.1% of Miura Global Management LLC’s portfolio, making the stock its 7th biggest position. Miura Global Management LLC’s holdings in AppFolio were worth $4,473,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of AppFolio by 13.5% in the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after purchasing an additional 28,673 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in AppFolio by 16.7% in the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after acquiring an additional 32,633 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Principal Financial Group Inc. increased its position in AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after purchasing an additional 24,697 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in AppFolio by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 176,815 shares of the software maker’s stock worth $41,622,000 after purchasing an additional 24,141 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction dated 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 owns 33,819 shares in the company, valued at approximately $7,745,903.76. This represents a 2.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the sale, the insider now owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,961 shares of company stock valued at $5,893,982. Insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

Shares of APPF stock opened at $261.58 on Wednesday. The company has a market capitalization of $9.50 billion, a P/E ratio of 72.86 and a beta of 0.86. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The company’s 50 day moving average price is $226.10 and its two-hundred day moving average price is $231.24.

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

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.