SG Americas Securities LLC Sells 7,783 Shares of AppFolio, Inc. (NASDAQ:APPF)

SG Americas Securities LLC lessened its stake in AppFolio, Inc. (NASDAQ:APPF – Get Rating) by 53.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,761 shares of the software maker’s stock after selling 7,783 shares during the period. SG Americas Securities LLC’s holdings in AppFolio were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in APPF. Long Walk Management LP boosted its position in shares of AppFolio by 6.6% during the 2nd quarter. Long Walk Management LP now owns 367,576 shares of the software maker’s stock valued at $33,317,000 after purchasing an additional 22,650 shares in the last quarter. YorkBridge Wealth Partners LLC bought a new stake in shares of AppFolio during the 3rd quarter valued at about $263,000. US Bancorp DE boosted its position in shares of AppFolio by 206.7% during the 2nd quarter. US Bancorp DE now owns 322 shares of the software maker’s stock valued at $29,000 after purchasing an additional 217 shares in the last quarter. Equitable Trust Co. raised its stake in AppFolio by 95.7% during the 2nd quarter. Equitable Trust Co. now owns 6,436 shares of the software maker’s stock worth $583,000 after buying an additional 3,147 shares during the period. Finally, Castle Wealth Management LLC acquired a new position in AppFolio during the 2nd quarter worth approximately $56,000. Institutional investors own 64.79% of the company’s stock.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 600 shares of AppFolio stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $105.05, for a total transaction of $63,030.00. Following the sale, the insider now directly owns 59,383 shares of the company’s stock, valued at approximately $6,238,184.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 22.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com downgraded AppFolio from a “hold” rating to a “sell” rating in a research note on Saturday, November 19th. DA Davidson increased their price objective on AppFolio to $95.00 in a research note on Tuesday, November 1st. Finally, KeyCorp lowered their price objective on AppFolio from $143.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.75.

AppFolio Stock Performance

Shares of APPF stock opened at $116.14 on Friday. AppFolio, Inc. has a 52-week low of $79.92 and a 52-week high of $127.74. The company has a market capitalization of $4.08 billion, a PE ratio of -81.22 and a beta of 1.01. The business’s fifty day moving average is $112.40 and its 200 day moving average is $107.51.

AppFolio (NASDAQ:APPF – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The software maker reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.38. The business had revenue of $125.08 million for the quarter, compared to the consensus estimate of $118.90 million. AppFolio had a negative return on equity of 17.72% and a negative net margin of 11.22%. On average, sell-side analysts forecast that AppFolio, Inc. will post -1.7 EPS for the current fiscal year.

AppFolio Profile

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AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.