Oppenheimer Asset Management Inc. Lowers Holdings in AppFolio, Inc. (NASDAQ:APPF)

Oppenheimer Asset Management Inc. trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF) by 20.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,079 shares of the software maker’s stock after selling 1,071 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AppFolio were worth $960,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in APPF. Blue Trust Inc. boosted its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the period. GAMMA Investing LLC boosted its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares during the period. CWM LLC boosted its position in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares during the period. Advisors Asset Management Inc. boosted its position in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Price Performance

AppFolio stock opened at $229.33 on Tuesday. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The stock has a market cap of $8.33 billion, a PE ratio of 63.88 and a beta of 0.83. The stock’s fifty day moving average is $222.00 and its two-hundred day moving average is $231.11.

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, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period last year, the firm earned $0.26 earnings per share. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. On average, research analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In related news, major shareholder Maurice J. Duca sold 1,296 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now owns 9,383 shares of the company’s stock, valued at $2,221,612.91. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their position. 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. Corporate insiders own 5.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on APPF. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.