5,688 Shares of AppFolio, Inc. $APPF Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in AppFolio, Inc. (NASDAQ:APPF) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,688 shares of the software maker’s stock, valued at approximately $1,114,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APPF. Principal Financial Group Inc. lifted its holdings in shares of AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after purchasing an additional 259,933 shares during the last quarter. Nellore Capital Management LLC raised its stake in AppFolio by 2.9% during the second quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker’s stock valued at $105,008,000 after buying an additional 18,563 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in AppFolio by 6.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock valued at $60,686,000 after buying an additional 23,428 shares during the last quarter. Bank of America Corp DE boosted its holdings in AppFolio by 21.7% in the first quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after acquiring an additional 61,641 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in AppFolio by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 296,627 shares of the software maker’s stock worth $46,812,000 after acquiring an additional 9,600 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Activity

In related news, major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction on Friday, August 14th. The stock was sold at an average price of $202.12, for a total value of $1,455,264.00. Following the completion of the sale, the insider owned 14,624 shares of the company’s stock, valued at $2,955,802.88. The trade was a 32.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 59,543 shares of company stock valued at $12,640,497. Company insiders own 1.57% of the company’s stock.

AppFolio Trading Up 0.0%

Shares of APPF stock opened at $224.85 on Thursday. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $252.14. The stock has a market capitalization of $7.97 billion, a P/E ratio of 47.44 and a beta of 0.87. The firm’s 50 day moving average is $212.28 and its 200 day moving average is $184.30.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.03. The business had revenue of $295.69 million during the quarter, compared to analyst estimates of $294.46 million. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 EPS. As a group, equities analysts predict that AppFolio, Inc. will post 5.18 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the topic of a number of recent research reports. Guggenheim increased their target price on AppFolio from $232.00 to $239.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AppFolio in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods lifted their price target on AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research note on Wednesday, October 14th. Finally, UBS Group increased their price objective on shares of AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

AppFolio Company Profile

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.