Aigen Investment Management LP Decreases Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Aigen Investment Management LP trimmed its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 29.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,534 shares of the software maker’s stock after selling 629 shares during the quarter. Aigen Investment Management LP’s holdings in AppFolio were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American International Group Inc. lifted its stake in AppFolio by 280.7% in 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 last quarter. Ameritas Investment Partners Inc. grew its position in AppFolio by 223.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after acquiring an additional 4,445 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of AppFolio during the first quarter valued at $839,000. Lazard Asset Management LLC grew its holdings in shares of AppFolio by 750.5% in the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock worth $2,271,000 after purchasing an additional 8,128 shares during the last quarter. Finally, M&G Plc purchased a new position in AppFolio in the 1st quarter worth about $8,887,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Performance

Shares of AppFolio stock opened at $233.36 on Friday. The company has a market capitalization of $8.48 billion, a PE ratio of 65.00 and a beta of 0.83. The company has a 50-day simple moving average of $221.72 and a two-hundred day simple moving average of $231.18. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. AppFolio’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APPF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. DA Davidson upped their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $232.59, for a total value of $116,295.00. Following the completion of the transaction, the insider now owns 22,997 shares of the company’s stock, valued at approximately $5,348,872.23. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,706 shares of company stock worth $2,974,748 in the last ninety days. 5.24% of the stock is owned by insiders.

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.