Squarepoint Ops LLC Sells 50,227 Shares of AppFolio, Inc. $APPF

Squarepoint Ops LLC lessened its stake in AppFolio, Inc. (NASDAQ:APPF) by 62.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,438 shares of the software maker’s stock after selling 50,227 shares during the quarter. Squarepoint Ops LLC’s holdings in AppFolio were worth $4,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of AppFolio by 16,264.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,216,564 shares of the software maker’s stock valued at $676,126,000 after purchasing an additional 4,190,798 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of AppFolio by 20.9% in the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after purchasing an additional 259,933 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of AppFolio in the second quarter worth about $36,063,000. Lead Edge Capital Management LLC purchased a new position in AppFolio during the 1st quarter valued at approximately $33,183,000. Finally, Greenstone Partners & Co. LLC purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $43,647,000. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Guggenheim began coverage on shares of AppFolio in a report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target on the stock. DA Davidson set a $225.00 price target on AppFolio in a report on Friday, July 24th. Finally, KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $243.50.

AppFolio Stock Up 1.3%

APPF opened at $208.48 on Friday. The stock’s fifty day moving average is $196.90 and its two-hundred day moving average is $174.99. The company has a market capitalization of $7.38 billion, a P/E ratio of 47.60 and a beta of 0.85. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $285.61.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. During the same period in the prior year, the business earned $1.38 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts anticipate that AppFolio, Inc. will post 5.17 earnings per share for the current year.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 2,656 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $221.85, for a total transaction of $589,233.60. Following the transaction, the insider owned 8,000 shares of the company’s stock, valued at approximately $1,774,800. This trade represents a 24.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Eaton sold 373 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $202.61, for a total transaction of $75,573.53. Following the transaction, the chief financial officer directly owned 16,714 shares in the company, valued at $3,386,423.54. This trade represents a 2.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,217 shares of company stock valued at $34,157,323 over the last 90 days. 1.57% of the stock is currently owned by corporate insiders.

AppFolio Profile

AppFolio, Inc provides cloud-based software and technology solutions for the real estate industry. Its platform is designed to help property managers and real estate businesses manage core operations, including accounting, leasing, maintenance, communications, payments, reporting and resident services.

The company’s AppFolio Property Manager platform serves a range of property types, including residential, commercial, student housing and community associations. AppFolio also offers solutions for real estate investment management, along with workflow automation, data and reporting tools, online payment processing and other services intended to help customers operate more efficiently and improve the experience for owners, residents and tenants.

AppFolio was founded in 2006 and is headquartered in Santa Barbara, California.