AppFolio, Inc. $APPF Stake Lessened by Invesco Ltd.

Invesco Ltd. decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 9.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,873 shares of the software maker’s stock after selling 33,252 shares during the period. Invesco Ltd.’s holdings in AppFolio were worth $72,279,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in AppFolio by 5.7% during the 2nd quarter. M&T Bank Corp now owns 5,842 shares of the software maker’s stock valued at $1,345,000 after purchasing an additional 313 shares in the last quarter. Watchtower Advisors LP bought a new position in AppFolio during the second quarter valued at about $14,105,000. Grandeur Peak Global Advisors LLC acquired a new position in AppFolio during the second quarter worth about $485,000. Norges Bank acquired a new position in AppFolio during the second quarter worth about $34,425,000. Finally, Sellaronda Global Management LP raised its position in AppFolio by 6.3% in the second quarter. Sellaronda Global Management LP now owns 85,000 shares of the software maker’s stock worth $19,574,000 after acquiring an additional 5,000 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppFolio news, General Counsel Evan Pickering sold 334 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $243.67, for a total transaction of $81,385.78. Following the completion of the sale, the general counsel directly owned 2,969 shares in the company, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,947 shares of AppFolio stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the transaction, the chief executive officer directly owned 51,530 shares in the company, valued at approximately $12,390,388.50. This trade represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,381 shares of company stock valued at $2,550,689 in the last 90 days. Insiders own 4.68% of the company’s stock.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $231.45 on Thursday. The firm has a 50 day simple moving average of $238.21 and a 200 day simple moving average of $249.79. AppFolio, Inc. has a 52 week low of $190.24 and a 52 week high of $326.04. The company has a market cap of $8.31 billion, a PE ratio of 41.55 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.14). The firm had revenue of $249.35 million for the quarter, compared to analyst estimates of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 25.97%. AppFolio’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $325.00 price objective on shares of AppFolio in a research report on Wednesday, November 19th. KeyCorp reduced their target price on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AppFolio in a report on Monday. Finally, Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective for the company in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $310.20.

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.