Moran Wealth Management LLC Grows Position in AppFolio, Inc. (NASDAQ:APPF)

by · The Cerbat Gem

Moran Wealth Management LLC increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF – Free Report) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,341 shares of the software maker’s stock after purchasing an additional 858 shares during the quarter. Moran Wealth Management LLC owned 0.11% of AppFolio worth $9,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in APPF. EULAV Asset Management boosted its holdings in AppFolio by 40.6% in the 3rd quarter. EULAV Asset Management now owns 55,449 shares of the software maker’s stock valued at $13,053,000 after purchasing an additional 16,000 shares in the last quarter. Advisors Asset Management Inc. lifted its position in AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares during the period. Jennison Associates LLC raised its holdings in shares of AppFolio by 4.6% in the 3rd quarter. Jennison Associates LLC now owns 89,417 shares of the software maker’s stock worth $21,049,000 after purchasing an additional 3,943 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in AppFolio in the 3rd quarter worth approximately $2,271,000. Finally, Quest Partners LLC acquired a new stake in AppFolio during the 3rd quarter valued at approximately $632,000. 62.34% of the stock is owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of APPF traded down $1.21 during mid-day trading on Wednesday, reaching $227.34. 10,401 shares of the company’s stock traded hands, compared to its average volume of 275,476. The stock has a market cap of $8.26 billion, a P/E ratio of 63.66 and a beta of 0.83. The stock’s 50-day moving average is $222.16 and its two-hundred day moving average is $231.04. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Research analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

APPF has been the subject of a number of research analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. KeyCorp cut their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Get Our Latest Stock Analysis on APPF

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the sale, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Maurice J. Duca sold 500 shares of AppFolio stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total value of $116,295.00. Following the transaction, the insider now directly owns 22,997 shares in the company, valued at approximately $5,348,872.23. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,296 shares of company stock valued at $4,981,684 over the last 90 days. 5.24% of the stock is currently owned by corporate insiders.

About AppFolio

(Free Report)

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.

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