Fortis Capital Advisors LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,574 shares of the software maker's stock, valued at approximately $597,000.
Several other hedge funds have also recently added to or reduced their stakes in APPF. Covestor Ltd raised its holdings in shares of AppFolio by 39.9% during the 4th quarter. Covestor Ltd now owns 1,118 shares of the software maker's stock valued at $276,000 after buying an additional 319 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of AppFolio by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after acquiring an additional 60 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of AppFolio during the fourth quarter worth approximately $278,000. Raymond James Financial Inc. bought a new stake in shares of AppFolio in the 4th quarter worth approximately $30,195,000. Finally, Martingale Asset Management L P boosted its stake in shares of AppFolio by 353.0% in the 4th quarter. Martingale Asset Management L P now owns 34,344 shares of the software maker's stock valued at $8,473,000 after purchasing an additional 26,763 shares in the last quarter. Institutional investors own 85.19% of the company's stock.
AppFolio Stock Down 2.5 %
Shares of APPF traded down $5.71 during mid-day trading on Tuesday, hitting $221.86. 162,746 shares of the company's stock traded hands, compared to its average volume of 265,005. The business's 50-day moving average price is $218.10 and its 200-day moving average price is $231.50. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market capitalization of $8.08 billion, a P/E ratio of 39.97 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 net margin of 25.69% and a return on equity of 26.21%. Sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.
Insider Buying and Selling at AppFolio
In related news, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares in the company, valued at $692,977.06. This represents a -150.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction dated 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 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 disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. Piper Sandler restated a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson dropped their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday. Finally, Stephens restated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $272.71.
Check Out Our Latest Stock Analysis on APPF
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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