Bridgewater Associates LP Buys 2,156 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bridgewater Associates LP raised its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,301 shares of the software maker's stock after purchasing an additional 2,156 shares during the quarter. Bridgewater Associates LP owned 0.21% of AppFolio worth $19,072,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of AppFolio by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock valued at $37,965,000 after buying an additional 5,077 shares during the period. South Dakota Investment Council lifted its holdings in shares of AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after buying an additional 1,700 shares during the last quarter. Bryce Point Capital LLC acquired a new position in shares of AppFolio during the fourth quarter valued at about $1,392,000. Sei Investments Co. lifted its stake in shares of AppFolio by 9.4% in the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after buying an additional 3,935 shares during the period. Finally, SYM FINANCIAL Corp acquired a new stake in AppFolio during the fourth quarter worth about $292,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on APPF. Stephens reiterated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. DA Davidson lowered their price target on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler restated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp lowered shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Finally, William Blair restated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $272.71.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 838 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. 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 on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by company insiders.

AppFolio Trading Up 0.4 %

Shares of NASDAQ:APPF traded up $0.86 during midday trading on Friday, hitting $218.78. The company had a trading volume of 163,421 shares, compared to its average volume of 264,747. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 39.42 and a beta of 0.86. The firm has a fifty day simple moving average of $217.92 and a 200 day simple moving average of $231.20. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly 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%. Equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

AppFolio 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.