EULAV Asset Management Has $13.05 Million Stake in AppFolio, Inc. (NASDAQ:APPF)

EULAV Asset Management lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 40.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,449 shares of the software maker’s stock after purchasing an additional 16,000 shares during the quarter. EULAV Asset Management owned 0.15% of AppFolio worth $13,053,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of APPF. US Bancorp DE raised its position in shares of AppFolio by 200.8% during the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock worth $356,000 after purchasing an additional 964 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of AppFolio during the first quarter worth about $306,000. State Board of Administration of Florida Retirement System raised its position in shares of AppFolio by 17.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 6,456 shares of the software maker’s stock worth $1,593,000 after purchasing an additional 970 shares during the period. Vanguard Group Inc. raised its position in shares of AppFolio by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after purchasing an additional 73,965 shares during the period. Finally, American International Group Inc. raised its position in shares of AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after purchasing an additional 26,815 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Activity

In related news, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $234.87, for a total value of $697,094.16. Following the transaction, the insider now directly owns 24,500 shares in the company, valued at approximately $5,754,315. This trade represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,296 shares of company stock worth $4,981,684. Insiders own 5.24% of the company’s stock.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $228.55 on Wednesday. The stock has a market capitalization of $8.30 billion, a PE ratio of 63.66 and a beta of 0.83. The business has a fifty day moving average price of $222.16 and a two-hundred day moving average price of $231.04. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $199.11 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities analysts expect that AppFolio, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research reports. Piper Sandler decreased their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. KeyCorp decreased their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods downgraded 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. Finally, StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.