Blair William & Co. IL lessened its position in shares of AppFolio Inc (NASDAQ:APPF) by 7.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 101,546 shares of the software maker’s stock after selling 7,766 shares during the quarter. Blair William & Co. IL’s holdings in AppFolio were worth $7,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zacks Investment Management bought a new stake in shares of AppFolio in the 2nd quarter valued at approximately $906,000. Globeflex Capital L P lifted its stake in shares of AppFolio by 11.9% in the 2nd quarter. Globeflex Capital L P now owns 11,300 shares of the software maker’s stock valued at $691,000 after purchasing an additional 1,200 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at approximately $1,966,000. Granite Investment Partners LLC bought a new stake in shares of AppFolio in the 2nd quarter valued at approximately $16,046,000. Finally, DE Burlo Group Inc. bought a new stake in shares of AppFolio in the 2nd quarter valued at approximately $2,922,000. Institutional investors and hedge funds own 31.12% of the company’s stock.
Several equities research analysts have recently issued reports on APPF shares. BidaskClub lowered AppFolio from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. TheStreet lowered AppFolio from a “b-” rating to a “c+” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered AppFolio from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $70.50.
Shares of APPF stock opened at $61.29 on Friday. AppFolio Inc has a 52-week low of $37.56 and a 52-week high of $91.49. The company has a market cap of $2.10 billion, a P/E ratio of 109.45 and a beta of 1.41.
AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Monday, October 29th. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). AppFolio had a return on equity of 20.57% and a net margin of 11.20%. The business had revenue of $50.13 million for the quarter, compared to the consensus estimate of $47.72 million. AppFolio’s quarterly revenue was up 32.2% on a year-over-year basis. On average, analysts anticipate that AppFolio Inc will post 0.63 earnings per share for the current fiscal year.
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AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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