SG Americas Securities LLC Sells 15,073 Shares of AppFolio, Inc. $APPF

SG Americas Securities LLC decreased its position in AppFolio, Inc. (NASDAQ:APPF) by 74.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,269 shares of the software maker’s stock after selling 15,073 shares during the period. SG Americas Securities LLC’s holdings in AppFolio were worth $1,452,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of APPF. Highland Capital Management LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at approximately $1,435,000. Park Avenue Securities LLC acquired a new stake in AppFolio in the 2nd quarter valued at $288,000. AGF Management Ltd. bought a new stake in AppFolio in the second quarter valued at $3,296,000. First Citizens Bank & Trust Co. grew its position in AppFolio by 263.0% in the second quarter. First Citizens Bank & Trust Co. now owns 4,556 shares of the software maker’s stock valued at $1,049,000 after acquiring an additional 3,301 shares during the period. Finally, Callan Family Office LLC acquired a new position in AppFolio during the second quarter worth $626,000. Institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.8%

Shares of APPF stock opened at $217.89 on Friday. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04. The firm’s 50 day moving average is $232.08 and its 200-day moving average is $251.24. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 39.12 and a beta of 0.78.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The company had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. During the same period in the prior year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APPF shares. UBS Group started coverage on shares of AppFolio in a report on Friday, December 12th. They issued a “buy” rating and a $285.00 target price on the stock. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target on the stock in a research report on Friday, October 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research note on Thursday. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $306.00.

Insider Activity

In related news, CFO Timothy Mathias Eaton sold 517 shares of AppFolio stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the sale, the chief financial officer directly owned 10,104 shares in the company, valued at $2,307,147.36. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Evan Pickering sold 334 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the sale, the general counsel directly owned 2,969 shares of the company’s stock, valued at $723,456.23. This represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 8,745 shares of company stock valued at $2,097,550. Company insiders own 4.68% of the company’s stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.