Edgestream Partners L.P. purchased a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,496 shares of the software maker's stock, valued at approximately $4,070,000.
Several other hedge funds and other institutional investors have also made changes to their positions in APPF. State Street Corp lifted its holdings in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker's stock valued at $153,748,000 after purchasing an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after purchasing an additional 207,204 shares during the period. Geode Capital Management LLC increased its holdings in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker's stock valued at $97,252,000 after buying an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. boosted its stake in shares of AppFolio by 10.1% during the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock worth $51,800,000 after buying an additional 54,386 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.
Insider Buying and Selling at AppFolio
In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The stock was 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 $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares in the company, valued at $5,795,565.30. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.24% of the company's stock.
AppFolio Stock Performance
Shares of AppFolio stock traded down $4.21 during midday trading on Wednesday, reaching $210.25. 322,856 shares of the company's stock traded hands, compared to its average volume of 263,905. The company's 50 day simple moving average is $233.61 and its 200 day simple moving average is $233.48. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 37.88 and a beta of 0.89.
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 (EPS) 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%. As a group, equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.
Wall Street Analysts Forecast Growth
APPF has been the topic of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reissued a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Stephens reiterated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $276.29.
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About AppFolio
(
Free Report)
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.
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