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

Kestra Investment Management LLC increased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 134.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP purchased a new position in AppFolio in the third quarter valued at approximately $1,114,000. Cullinan Associates Inc. purchased a new stake in shares of AppFolio during the 3rd quarter worth approximately $241,000. Ethic Inc. purchased a new stake in shares of AppFolio during the 3rd quarter worth approximately $311,000. Parallel Advisors LLC lifted its position in shares of AppFolio by 8.5% during the 3rd quarter. Parallel Advisors LLC now owns 854 shares of the software maker’s stock worth $171,000 after buying an additional 67 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at $522,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity

In other news, major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction on Friday, August 14th. The shares were sold at an average price of $202.12, for a total value of $1,455,264.00. Following the transaction, the insider directly owned 14,624 shares of the company’s stock, valued at $2,955,802.88. The trade was a 32.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 59,543 shares of company stock worth $12,640,497 in the last 90 days. Company insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

APPF has been the topic of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of AppFolio in a research note on Wednesday, November 4th. Guggenheim boosted their price target on shares of AppFolio from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. UBS Group boosted their price target on shares of AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of AppFolio from $233.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

AppFolio Stock Up 0.0%

NASDAQ:APPF opened at $224.85 on Thursday. The stock’s 50 day moving average price is $212.28 and its 200 day moving average price is $184.30. The company has a market capitalization of $7.97 billion, a PE ratio of 47.44 and a beta of 0.87. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $252.14.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.03. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. 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 earned $1.31 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 5.18 EPS for the current fiscal year.

AppFolio 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.