Franklin Resources Inc. increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,850 shares of the software maker's stock after purchasing an additional 20,195 shares during the quarter. Franklin Resources Inc. owned 0.68% of AppFolio worth $61,396,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in APPF. UMB Bank n.a. increased its holdings in AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after buying an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in AppFolio in the 4th quarter valued at approximately $50,000. EverSource Wealth Advisors LLC raised its holdings in AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its position in AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after purchasing an additional 93 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock valued at $62,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.
AppFolio Price Performance
APPF stock traded up $7.88 during midday trading on Tuesday, hitting $222.65. The stock had a trading volume of 52,034 shares, compared to its average volume of 261,683. The company's 50-day moving average price is $221.18 and its 200 day moving average price is $232.25. The firm has a market cap of $8.11 billion, a PE ratio of 40.12 and a beta of 0.86. 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 announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.
Insider Activity
In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 838 shares of the stock in a transaction 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 transaction, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Stephens reissued an "overweight" rating and issued a $295.00 price objective 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. William Blair restated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $276.29.
Read Our Latest Research Report on AppFolio
About AppFolio
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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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