Arrowstreet Capital Limited Partnership Purchases 162,540 Shares of AppFolio, Inc. (NASDAQ:APPF)

Arrowstreet Capital Limited Partnership grew its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 227.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,892 shares of the software maker's stock after acquiring an additional 162,540 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.64% of AppFolio worth $57,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after purchasing an additional 91,174 shares during the period. State Street Corp grew its holdings in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker's stock valued at $153,748,000 after buying an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after buying an additional 207,204 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker's stock worth $97,252,000 after buying an additional 32,743 shares in the last quarter. Finally, DF Dent & Co. Inc. boosted its position in shares of AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker's stock worth $82,788,000 after acquiring an additional 32,181 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPF. Stephens reiterated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Finally, KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target for the company. in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, AppFolio currently has a consensus rating of "Hold" and an average price target of $276.29.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares in the company, valued at $692,977.06. This represents a -150.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now owns 22,701 shares of the company's stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company's stock.

AppFolio Stock Down 3.6 %

NASDAQ APPF traded down $8.16 during trading hours on Friday, hitting $216.25. 370,541 shares of the company were exchanged, compared to its average volume of 261,094. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a 50-day moving average price of $221.98 and a 200 day moving average price of $232.37. The stock has a market cap of $7.87 billion, a PE ratio of 38.96 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.