Bridgewater Associates LP Has $17.69 Million Holdings in AppFolio, Inc. (NASDAQ:APPF)

Bridgewater Associates LP increased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,145 shares of the software maker’s stock after purchasing an additional 9,795 shares during the period. Bridgewater Associates LP owned approximately 0.21% of AppFolio worth $17,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after buying an additional 49 shares during the period. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. ProShare Advisors LLC raised its stake in AppFolio by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after buying an additional 102 shares during the period. CWM LLC grew its position in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler decreased their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now owns 28,266 shares in the company, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,577 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the transaction, the insider now owns 2,875 shares of the company’s stock, valued at approximately $720,906.25. This represents a 47.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,735 shares of company stock worth $6,296,137. 5.24% of the stock is owned by corporate insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $254.82 on Thursday. AppFolio, Inc. has a 1-year low of $164.29 and a 1-year high of $274.56. The company’s fifty day simple moving average is $223.87 and its 200-day simple moving average is $230.91. The stock has a market capitalization of $9.26 billion, a PE ratio of 70.98 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current year.

About AppFolio

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.