Ieq Capital LLC Raises Holdings in AppFolio, Inc. (NASDAQ:APPF)

Ieq Capital LLC lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 905.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,960 shares of the software maker's stock after purchasing an additional 34,184 shares during the period. Ieq Capital LLC owned about 0.10% of AppFolio worth $9,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APPF. Lord Abbett & CO. LLC increased its position in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after buying an additional 207,204 shares during the last quarter. Deepwater Asset Management LLC bought a new position in shares of AppFolio during the 4th quarter worth $15,483,000. FMR LLC increased its holdings in AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker's stock worth $14,334,000 after acquiring an additional 55,348 shares during the last quarter. Franklin Resources Inc. raised its stake in AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after acquiring an additional 54,386 shares during the period. Finally, State Street Corp lifted its holdings in AppFolio by 8.2% during the third 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. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APPF has been the subject of several recent research reports. Stephens reiterated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and set a $265.00 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 on the stock. in a research report on Friday, January 10th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $276.29.

AppFolio Price Performance

NASDAQ APPF traded down $4.43 during trading on Friday, reaching $211.66. The company's stock had a trading volume of 290,877 shares, compared to its average volume of 291,174. The stock has a market capitalization of $7.70 billion, a PE ratio of 38.14 and a beta of 0.88. The firm has a fifty day moving average of $242.36 and a 200 day moving average of $233.50. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

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%. Research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In related news, major shareholder Maurice J. Duca sold 2,577 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $250.75, for a total value of $646,182.75. Following the transaction, the insider now owns 2,875 shares of the company's stock, valued at $720,906.25. This represents a 47.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,321 shares of company stock valued at $3,034,077 in the last quarter. Insiders own 5.24% of the company's stock.

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.