KLP Kapitalforvaltning AS acquired a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,900 shares of the software maker's stock, valued at approximately $1,456,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised 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 during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of AppFolio in the fourth quarter worth $50,000. EverSource Wealth Advisors LLC raised its stake in shares of AppFolio by 1,485.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after acquiring an additional 208 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after acquiring an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in AppFolio by 126.5% during the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after purchasing an additional 148 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have commented on APPF. KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. Stephens restated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $276.29.
View Our Latest Research Report on AppFolio
Insider Activity
In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction that occurred on 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 approximately $18,212,440.48. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now directly owns 22,701 shares in the company, valued at approximately $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 Trading Up 2.3 %
APPF stock traded up $5.20 during midday trading on Wednesday, hitting $227.63. 380,722 shares of the company's stock were exchanged, compared to its average volume of 258,715. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 41.01 and a beta of 0.86. The firm has a 50 day moving average price of $223.38 and a 200-day moving average price of $232.45. 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 posted its quarterly earnings results 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 net margin of 25.69% and a return on equity of 26.21%. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.
AppFolio Company Profile
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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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