Deepwater Asset Management LLC Invests $15.48 Million in AppFolio, Inc. (NASDAQ:APPF)

Deepwater Asset Management LLC bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 62,756 shares of the software maker's stock, valued at approximately $15,483,000. AppFolio accounts for 5.1% of Deepwater Asset Management LLC's investment portfolio, making the stock its 10th biggest position. Deepwater Asset Management LLC owned 0.17% of AppFolio at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of APPF. Tidal Investments LLC lifted its position in AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock worth $335,000 after buying an additional 40 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock worth $158,000 after acquiring an additional 40 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after acquiring an additional 54 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after purchasing an additional 65 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in AppFolio by 16.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker's stock valued at $171,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on APPF. KeyCorp lowered 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. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler reissued a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $276.29.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now owns 28,266 shares of the company's stock, valued at $6,677,559.84. This represents a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 2,510 shares of AppFolio stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $229.21, for a total value of $575,317.10. Following the sale, the insider now directly owns 2,459 shares in the company, valued at $563,627.39. The trade was a 50.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,606 shares of company stock valued at $5,958,832 in the last ninety days. Company insiders own 5.24% of the company's stock.

AppFolio Trading Down 1.8 %

AppFolio stock traded down $4.04 on Thursday, reaching $226.55. 343,704 shares of the stock were exchanged, compared to its average volume of 304,646. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The firm has a fifty day moving average price of $252.04 and a two-hundred day moving average price of $234.91. The stock has a market cap of $8.23 billion, a PE ratio of 40.82 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. Equities analysts anticipate that AppFolio, Inc. will post 4.21 EPS for the current fiscal 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.