GSA Capital Partners LLP Decreases Holdings in AppFolio, Inc. (NASDAQ:APPF)

GSA Capital Partners LLP cut its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 64.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,420 shares of the software maker’s stock after selling 8,120 shares during the quarter. GSA Capital Partners LLP’s holdings in AppFolio were worth $1,040,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after buying an additional 73,965 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in AppFolio by 13.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after acquiring an additional 28,673 shares in the last quarter. Driehaus Capital Management LLC raised its position in AppFolio by 16.7% during the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after acquiring an additional 32,633 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after purchasing an additional 24,697 shares during the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Price Performance

Shares of APPF stock opened at $230.02 on Friday. The firm’s 50-day simple moving average is $221.86 and its 200-day simple moving average is $231.12. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The firm has a market cap of $8.36 billion, a P/E ratio of 64.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter last year, the firm posted $0.26 earnings per share. AppFolio’s revenue was up 24.5% on a year-over-year basis. Analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now owns 33,819 shares in the company, valued at approximately $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total transaction of $116,295.00. Following the sale, the insider now owns 22,997 shares of the company’s stock, valued at approximately $5,348,872.23. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,796 shares of company stock worth $4,177,209. 5.24% of the stock is owned by insiders.

Analysts Set New Price Targets

APPF has been the topic of a number of recent research reports. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp cut their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, DA Davidson lifted their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.75.

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.