AppFolio, Inc. $APPF Shares Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 134.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,023 shares of the software maker’s stock after purchasing an additional 2,304 shares during the quarter. Kestra Investment Management LLC’s holdings in AppFolio were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in APPF. Principal Financial Group Inc. increased its stake in AppFolio by 20.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after buying an additional 259,933 shares during the period. Nellore Capital Management LLC boosted its position in AppFolio by 2.9% in the 2nd quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker’s stock valued at $105,008,000 after buying an additional 18,563 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in AppFolio by 6.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock valued at $60,686,000 after buying an additional 23,428 shares during the period. Bank of America Corp DE boosted its position in AppFolio by 21.7% in the 1st quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock valued at $54,543,000 after buying an additional 61,641 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in AppFolio by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 296,627 shares of the software maker’s stock valued at $46,812,000 after buying an additional 9,600 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APPF. DA Davidson boosted their price target on shares of AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Guggenheim increased their price objective on AppFolio from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Wednesday, October 14th. UBS Group lifted their target price on AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Finally, Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $250.00.

AppFolio Stock Up 0.0%

Shares of NASDAQ:APPF opened at $224.85 on Thursday. The firm’s 50 day moving average price is $212.28 and its 200 day moving average price is $184.30. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 47.44 and a beta of 0.87. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $252.14.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 22nd. The software maker reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The company had revenue of $295.69 million during the quarter, compared to analysts’ expectations of $294.46 million. During the same quarter in the previous year, the business posted $1.31 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. On average, equities analysts anticipate that AppFolio, Inc. will post 5.18 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Timothy Eaton sold 373 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $202.61, for a total transaction of $75,573.53. Following the completion of the transaction, the chief financial officer owned 16,714 shares in the company, valued at approximately $3,386,423.54. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 1,600 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $240.14, for a total value of $384,224.00. Following the completion of the transaction, the insider directly owned 27,205 shares in the company, valued at $6,533,008.70. This trade represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 59,543 shares of company stock worth $12,640,497 over the last 90 days. Company insiders own 1.57% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.