Martingale Asset Management L P Buys 26,763 Shares of AppFolio, Inc. (NASDAQ:APPF)

Martingale Asset Management L P lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 353.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,344 shares of the software maker's stock after acquiring an additional 26,763 shares during the quarter. Martingale Asset Management L P owned 0.09% of AppFolio worth $8,473,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its stake in shares of AppFolio by 193.0% during the 4th 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 purchased a new stake in AppFolio during the fourth quarter valued at about $50,000. Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after acquiring an additional 206 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $55,000 after purchasing an additional 208 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of AppFolio by 60.4% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently commented on APPF. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. DA Davidson reduced their target price on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday. Piper Sandler reiterated 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 target price on shares of AppFolio in a research report on Friday, January 31st. Finally, William Blair restated an "outperform" rating on shares of AppFolio in a research report 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $272.71.

Insider Activity at AppFolio

In related news, Director Alexander Wolf purchased 9,678 shares of the stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares in the company, valued at $692,977.06. The trade was a -150.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio 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 transaction, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. This trade represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

AppFolio Stock Down 1.1 %

Shares of APPF traded down $2.42 during mid-day trading on Tuesday, hitting $225.15. 34,846 shares of the company's stock were exchanged, compared to its average volume of 264,155. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 40.57 and a beta of 0.86. The firm has a fifty day moving average of $218.20 and a two-hundred day moving average of $231.57. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly 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 return on equity of 26.21% and a net margin of 25.69%. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

AppFolio Company 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.