Gilder Gagnon Howe & Co. LLC reduced its position in AppFolio Inc (NASDAQ:APPF) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,205 shares of the software maker’s stock after selling 20,096 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 1.34% of AppFolio worth $74,555,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its position in shares of AppFolio by 5.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,367 shares of the software maker’s stock worth $222,000 after buying an additional 70 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of AppFolio by 54.3% during the second quarter. Valeo Financial Advisors LLC now owns 321 shares of the software maker’s stock worth $52,000 after buying an additional 113 shares in the last quarter. Raymond James & Associates grew its position in shares of AppFolio by 1.5% during the first quarter. Raymond James & Associates now owns 7,751 shares of the software maker’s stock worth $860,000 after buying an additional 117 shares in the last quarter. California Public Employees Retirement System grew its position in shares of AppFolio by 0.4% during the second quarter. California Public Employees Retirement System now owns 36,086 shares of the software maker’s stock worth $5,872,000 after buying an additional 149 shares in the last quarter. Finally, US Bancorp DE acquired a new position in shares of AppFolio during the first quarter worth about $31,000. 40.31% of the stock is owned by institutional investors.
In related news, Director Janet Kerr sold 500 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $158.34, for a total transaction of $79,170.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Klaus Schauser sold 30,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $162.45, for a total value of $4,873,500.00. The disclosure for this sale can be found here. Insiders have sold 132,512 shares of company stock valued at $21,205,873 in the last 90 days. Company insiders own 41.99% of the company’s stock.
A number of equities analysts have recently commented on the company. William Blair downgraded AppFolio from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Friday, August 7th. BidaskClub cut AppFolio from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, TheStreet upgraded AppFolio from a “c+” rating to a “b-” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. AppFolio has an average rating of “Hold” and an average target price of $139.50.
Shares of AppFolio stock traded down $3.17 during trading hours on Friday, hitting $151.70. 354,211 shares of the company were exchanged, compared to its average volume of 102,612. AppFolio Inc has a 1 year low of $81.01 and a 1 year high of $180.56. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average of $156.61 and a 200-day moving average of $135.59. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 176.40 and a beta of 1.07.
AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Monday, August 3rd. The software maker reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.40. AppFolio had a return on equity of 23.27% and a net margin of 10.61%. As a group, research analysts anticipate that AppFolio Inc will post 0.93 earnings per share for the current fiscal year.
AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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