Burns Matteson Capital Management LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Burns Matteson Capital Management LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the third quarter, Holdings Channel.com reports. The fund bought 1,296 shares of the software maker’s stock, valued at approximately $305,000.

Several other large investors have also recently bought and sold shares of APPF. CWM LLC lifted its position in AppFolio by 5,985.2% in the third quarter. CWM LLC now owns 9,067 shares of the software maker’s stock worth $2,134,000 after purchasing an additional 8,918 shares during the period. City Center Advisors LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at $294,000. Handelsbanken Fonder AB raised its stake in shares of AppFolio by 22.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 4,400 shares of the software maker’s stock valued at $1,036,000 after buying an additional 800 shares in the last quarter. Curbstone Financial Management Corp raised its stake in shares of AppFolio by 10.9% in the 3rd quarter. Curbstone Financial Management Corp now owns 2,840 shares of the software maker’s stock valued at $669,000 after buying an additional 280 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of AppFolio in the 2nd quarter valued at $265,000. 62.34% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

APPF traded up $4.11 during midday trading on Friday, hitting $226.27. The company had a trading volume of 281,391 shares, compared to its average volume of 276,654. The company has a market capitalization of $8.21 billion, a PE ratio of 66.36 and a beta of 0.81. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56. The firm’s 50-day simple moving average is $225.72 and its 200-day simple moving average is $233.49.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.53) EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp increased their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler increased their target price on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. DA Davidson increased their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Activity

In other news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total transaction of $270,000.00. Following the sale, the insider now directly owns 403,000 shares in the company, valued at approximately $108,810,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,941 shares of company stock valued at $8,327,162. 5.24% of the stock is currently owned by insiders.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.