Concorde Asset Management LLC Makes New $769,000 Investment in AppFolio Inc (NASDAQ:APPF)

Concorde Asset Management LLC acquired a new position in AppFolio Inc (NASDAQ:APPF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,421 shares of the software maker’s stock, valued at approximately $769,000.

A number of other hedge funds have also recently modified their holdings of APPF. Valeo Financial Advisors LLC grew its position in AppFolio by 54.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 321 shares of the software maker’s stock worth $52,000 after purchasing an additional 113 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of AppFolio in the third quarter worth approximately $57,000. Macquarie Group Ltd. bought a new stake in shares of AppFolio in the second quarter worth approximately $79,000. Advisor Group Holdings Inc. bought a new stake in AppFolio during the first quarter valued at approximately $208,000. Finally, Independent Advisor Alliance bought a new stake in AppFolio during the second quarter valued at approximately $217,000. 40.31% of the stock is owned by institutional investors and hedge funds.

NASDAQ:APPF traded down $0.42 during trading hours on Monday, hitting $152.58. 258 shares of the stock traded hands, compared to its average volume of 126,282. AppFolio Inc has a 1 year low of $81.01 and a 1 year high of $180.56. The stock has a 50 day moving average price of $151.26 and a 200 day moving average price of $145.24. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 177.28 and a beta of 1.16.

AppFolio (NASDAQ:APPF) last released its earnings results on Monday, August 3rd. The software maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. AppFolio had a net margin of 10.61% and a return on equity of 23.27%. The firm had revenue of $81.04 million for the quarter, compared to the consensus estimate of $77.51 million. Equities analysts forecast that AppFolio Inc will post 0.93 earnings per share for the current fiscal year.

In related news, Director Klaus Schauser sold 14,510 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $172.17, for a total value of $2,498,186.70. Also, Director Janet Kerr sold 500 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $139.34, for a total transaction of $69,670.00. The disclosure for this sale can be found here. Insiders sold 78,085 shares of company stock worth $12,889,070 in the last three months. Insiders own 41.99% of the company’s stock.

Several brokerages recently issued reports on APPF. Keefe, Bruyette & Woods began coverage on shares of AppFolio in a research report on Monday. They set a “market perform” rating and a $150.00 target price for the company. Zacks Investment Research lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, BidaskClub upgraded shares of AppFolio from a “sell” rating to a “hold” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $143.00.

AppFolio Profile

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.

Recommended Story: Commodities

Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

Receive News & Ratings for AppFolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio and related companies with MarketBeat.com's FREE daily email newsletter.