Deutsche Bank AG boosted its holdings in AppFolio Inc (NASDAQ:APPF) by 43.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,306 shares of the software maker’s stock after buying an additional 2,516 shares during the quarter. Deutsche Bank AG’s holdings in AppFolio were worth $921,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Raymond James & Associates grew its position in AppFolio by 1.5% during the 1st quarter. Raymond James & Associates now owns 7,751 shares of the software maker’s stock worth $860,000 after purchasing an additional 117 shares in the last quarter. Amalgamated Bank grew its holdings in shares of AppFolio by 6.0% during the 4th quarter. Amalgamated Bank now owns 2,859 shares of the software maker’s stock valued at $314,000 after acquiring an additional 163 shares in the last quarter. US Bancorp DE purchased a new position in shares of AppFolio during the 1st quarter valued at $31,000. Sunbelt Securities Inc. acquired a new stake in shares of AppFolio in the 4th quarter valued at $8,961,000. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of AppFolio by 3.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 10,838 shares of the software maker’s stock valued at $1,192,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 38.30% of the company’s stock.
In related news, Director Janet Kerr sold 500 shares of AppFolio stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $105.85, for a total transaction of $52,925.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ida Kathleen Kane sold 5,000 shares of AppFolio stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $108.25, for a total transaction of $541,250.00. Following the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $541,250. The disclosure for this sale can be found here. Insiders sold a total of 75,147 shares of company stock valued at $10,276,883 in the last quarter. Corporate insiders own 41.99% of the company’s stock.
AppFolio (NASDAQ:APPF) last posted its earnings results on Monday, May 4th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $72.50 million for the quarter, compared to analyst estimates of $72.50 million. AppFolio had a return on equity of 27.61% and a net margin of 12.73%. Analysts expect that AppFolio Inc will post 0.49 earnings per share for the current year.
A number of research analysts have recently commented on the stock. TheStreet raised shares of AppFolio from a “c+” rating to a “b-” rating in a research report on Wednesday, June 3rd. DA Davidson cut shares of AppFolio from a “neutral” rating to an “underperform” rating and set a $88.00 price objective on the stock. in a research note on Monday, May 4th. William Blair lowered shares of AppFolio from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of AppFolio from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research report on Thursday, June 4th. Finally, BidaskClub upgraded shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $129.03.
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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