Bridgewater Associates LP Purchases 9,795 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bridgewater Associates LP raised its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 15.0% during the 3rd quarter, Holdings Channel reports. The fund owned 75,145 shares of the software maker’s stock after purchasing an additional 9,795 shares during the period. Bridgewater Associates LP’s holdings in AppFolio were worth $17,689,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Summit Global Investments purchased a new position in shares of AppFolio in the 3rd quarter worth $759,000. Gladius Capital Management LP purchased a new position in AppFolio in the second quarter worth about $1,054,000. Baker Avenue Asset Management LP increased its stake in AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after acquiring an additional 3,038 shares during the last quarter. TD Asset Management Inc raised its position in AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock valued at $1,957,000 after purchasing an additional 2,600 shares during the period. Finally, Comerica Bank lifted its stake in shares of AppFolio by 129.9% in the 1st quarter. Comerica Bank now owns 13,683 shares of the software maker’s stock valued at $3,376,000 after purchasing an additional 7,732 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APPF. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. KeyCorp reduced their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.75.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the sale, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the transaction, the insider now directly owns 18,922 shares in the company, valued at approximately $4,393,309.96. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,735 shares of company stock worth $6,296,137. Corporate insiders own 5.24% of the company’s stock.

AppFolio Trading Down 0.2 %

Shares of APPF stock opened at $254.82 on Thursday. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 70.98 and a beta of 0.83. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $223.87 and a two-hundred day simple moving average of $230.91.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data 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. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

About AppFolio

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.