Marshall Wace LLP Buys 55,277 Shares of AppFolio, Inc. $APPF

Marshall Wace LLP raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 2,568.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,429 shares of the software maker’s stock after purchasing an additional 55,277 shares during the quarter. Marshall Wace LLP owned 0.16% of AppFolio worth $13,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Huntington National Bank grew its holdings in AppFolio by 58.7% during the second quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after buying an additional 74 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in AppFolio during the 2nd quarter worth $52,000. Caitong International Asset Management Co. Ltd purchased a new position in AppFolio during the 1st quarter worth $55,000. Elevation Point Wealth Partners LLC bought a new stake in shares of AppFolio in the 2nd quarter worth $55,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AppFolio by 23.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,947 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $240.45, for a total transaction of $949,056.15. Following the completion of the transaction, the chief executive officer owned 51,530 shares in the company, valued at approximately $12,390,388.50. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Evan Pickering sold 334 shares of AppFolio stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the completion of the sale, the general counsel directly owned 2,969 shares of the company’s stock, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,381 shares of company stock worth $2,550,689 over the last quarter. 4.68% of the stock is currently owned by corporate insiders.

AppFolio Stock Down 0.9%

AppFolio stock opened at $231.45 on Thursday. The firm has a 50 day moving average price of $238.21 and a 200-day moving average price of $249.79. AppFolio, Inc. has a twelve month low of $190.24 and a twelve month high of $326.04. The company has a market capitalization of $8.31 billion, a P/E ratio of 41.55 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The firm had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same quarter in the previous year, the company posted $1.29 EPS. AppFolio’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

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

AppFolio Company 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.