Independent Advisor Alliance Sells 148 Shares of AppFolio, Inc. (NASDAQ:APPF)

Independent Advisor Alliance trimmed its stake in AppFolio, Inc. (NASDAQ:APPF) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 2,554 shares of the software maker’s stock after selling 148 shares during the quarter. Independent Advisor Alliance’s holdings in AppFolio were worth $601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in APPF. Bank of New York Mellon Corp increased its position in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after buying an additional 28,673 shares during the period. Driehaus Capital Management LLC increased its position in AppFolio by 16.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after buying an additional 32,633 shares during the period. Squarepoint Ops LLC increased its position in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after buying an additional 120,835 shares during the period. Principal Financial Group Inc. increased its position in AppFolio by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after buying an additional 24,697 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AppFolio by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 176,815 shares of the software maker’s stock worth $41,622,000 after buying an additional 24,141 shares during the period. 62.34% of the stock is owned by institutional investors.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Maurice J. Duca sold 2,274 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $233.01, for a total value of $529,864.74. Following the completion of the transaction, the insider now directly owns 19,122 shares in the company, valued at $4,455,617.22. The trade was a 10.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,735 shares of company stock worth $6,296,137. Insiders own 5.24% of the company’s stock.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $254.82 on Thursday. The business’s fifty day moving average price is $223.87 and its two-hundred day moving average price is $230.91. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 70.52 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on APPF. Piper Sandler dropped their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered 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 report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio 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.