Quest Partners LLC invests $632,000 in AppFolio, Inc. (NASDAQ:APPF)

Quest Partners LLC purchased a new stake in AppFolio, Inc. during the third quarter. (NASDAQ:APPF – Free Report), the company said in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,685 shares of the software maker, worth about $632,000.

A number of other institutional investors have also bought and sold shares of the company. US Bancorp DE increased its stake in shares of AppFolio by 200.8% in the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock worth $356,000 after purchasing an additional 964 shares during the period. Vanguard Group Inc. increased its stake in AppFolio shares by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of AppFolio by 11.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after purchasing an additional 4,131 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of AppFolio during the first quarter valued at $207,000. Finally, Advisors Asset Management Inc. increased its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker worth $44,000, after acquiring another 134 shares in the last quarter. Institutional investors own 62.34% of the company’s shares.

Insiders place their bets

In other AppFolio news, Major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction on Wednesday, September 18. The stock sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares in the company, valued at $4,393,309.96. This means a decrease in their position of 1.05%. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio in a transaction on Friday, November 15. The stock sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the CEO now owns 74,327 shares in the company, valued at $17,084,060.95. The transaction represented a 4.50% decrease in their ownership of the shares. The explanation of this sale can be found here. Over the last ninety days, insiders have sold 24,865 shares of the company’s stock, valued at $5,799,618. Corporate insiders own 5.24% of the company’s shares.

Wall Street analysts predict growth

A number of equity research analysts have commented on APPF stock. KeyCorp lowered their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25. Piper Sandler lowered their price target on AppFolio from $300.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, October 25. Piper Sandler Companies reissued an “overweight” rating and a $300.00 price target on shares of AppFolio in a research note on Friday, July 26. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15. Finally, DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26. One investment 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, the stock currently has a consensus rating of Moderate Buy and an average price target of $261.75.

Check out our latest inventory report on AppFolio

AppFolio is trading 2.4% higher

Shares of AppFolio stock opened at $242.39 on Friday. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. The stock has a fifty-day simple moving average of $222.54 and a 200-day simple moving average of $231.07. 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 posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $199.11 million. During the same quarter of the previous year, the company posted earnings per share of $0.26. The company’s revenue increased by 24.5% compared to the same quarter last year. On average, analysts predict that AppFolio, Inc. will post earnings per share of 3.23 for the current year.

AppFolio profile

(Free report)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company offers a cloud-based platform that allows users to automate and optimize common workflows; tools that help with leasing, maintenance and accounting; and other technology and services offered by third parties.

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Would you like to see which other hedge funds own APPF? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for AppFolio, Inc. (NASDAQ:APPF – Free Report).

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