AppFolio, Inc. $APPF Shares Sold by TenCore Partners LP

TenCore Partners LP decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 57.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,240 shares of the software maker’s stock after selling 51,030 shares during the quarter. AppFolio comprises 6.2% of TenCore Partners LP’s holdings, making the stock its 6th biggest position. TenCore Partners LP’s holdings in AppFolio were worth $7,467,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after acquiring an additional 259,933 shares during the period. Nellore Capital Management LLC lifted its stake in shares of AppFolio by 2.9% during the 2nd quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker’s stock worth $105,008,000 after purchasing an additional 18,563 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of AppFolio by 6.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock worth $60,686,000 after purchasing an additional 23,428 shares during the period. Bank of America Corp DE lifted its stake in shares of AppFolio by 21.7% during the 1st quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after purchasing an additional 61,641 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AppFolio by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 296,627 shares of the software maker’s stock worth $46,812,000 after purchasing an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Down 2.1%

NASDAQ:APPF opened at $224.76 on Wednesday. The company has a market cap of $7.97 billion, a P/E ratio of 47.42 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $256.86. The firm’s 50 day moving average is $212.29 and its two-hundred day moving average is $184.27.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on APPF shares. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods increased their target price on AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. DA Davidson increased their target price on AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Zacks Research lowered AppFolio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Finally, Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $250.00.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice Duca sold 7,200 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $203.41, for a total transaction of $1,464,552.00. Following the completion of the sale, the insider owned 11,424 shares of the company’s stock, valued at approximately $2,323,755.84. The trade was a 38.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,743 shares of company stock valued at $14,070,831 in the last 90 days. 1.57% of the stock is currently owned by company insiders.

About AppFolio

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.