Dimensional Fund Advisors LP increased its position in shares of AppFolio Inc (NASDAQ:APPF) by 33.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,403 shares of the software maker’s stock after purchasing an additional 41,172 shares during the quarter. Dimensional Fund Advisors LP owned 0.48% of AppFolio worth $9,992,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning bought a new stake in AppFolio during the second quarter worth about $255,000. Campbell & CO Investment Adviser LLC bought a new stake in AppFolio during the second quarter worth about $294,000. United Capital Financial Advisers LLC bought a new stake in AppFolio during the first quarter worth about $332,000. Victory Capital Management Inc. lifted its position in AppFolio by 15.9% during the second quarter. Victory Capital Management Inc. now owns 6,476 shares of the software maker’s stock worth $396,000 after purchasing an additional 888 shares during the period. Finally, Rhumbline Advisers lifted its position in AppFolio by 58.9% during the second quarter. Rhumbline Advisers now owns 14,264 shares of the software maker’s stock worth $872,000 after purchasing an additional 5,285 shares during the period. 29.94% of the stock is owned by institutional investors and hedge funds.
In other AppFolio news, insider Jonathan Walker sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $73.03, for a total transaction of $2,190,900.00. Following the completion of the transaction, the insider now owns 30,000 shares of the company’s stock, valued at $2,190,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Rauth III sold 20,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $63.40, for a total value of $1,268,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,268,000. The disclosure for this sale can be found here. 41.96% of the stock is currently owned by insiders.
AppFolio (NASDAQ:APPF) last issued its earnings results on Monday, July 30th. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $47.24 million during the quarter, compared to the consensus estimate of $45.55 million. AppFolio had a return on equity of 20.10% and a net margin of 10.92%. The business’s revenue was up 31.7% on a year-over-year basis. Sell-side analysts forecast that AppFolio Inc will post 0.69 EPS for the current year.
Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, August 2nd. Morgan Stanley boosted their target price on AppFolio from $52.00 to $56.00 and gave the stock a “sell” rating in a research note on Tuesday, July 31st. Finally, TheStreet raised AppFolio from a “c” rating to a “b-” rating in a research note on Monday, June 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. AppFolio presently has an average rating of “Hold” and an average target price of $70.50.
AppFolio Company Profile
AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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