Proficio Capital Partners LLC Invests $7.06 Million in AppFolio, Inc. (NASDAQ:APPF)

Proficio Capital Partners LLC acquired a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 28,620 shares of the software maker's stock, valued at approximately $7,061,000. Proficio Capital Partners LLC owned approximately 0.08% of AppFolio at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Global Investments acquired a new position in shares of AppFolio in the third quarter worth about $759,000. JPMorgan Chase & Co. raised its position in shares of AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock valued at $37,965,000 after purchasing an additional 5,077 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of AppFolio by 183.3% during the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker's stock valued at $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP grew its position in shares of AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker's stock worth $5,057,000 after buying an additional 3,038 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock worth $92,000 after buying an additional 141 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

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AppFolio Trading Up 0.4 %

APPF traded up $0.78 during trading on Friday, reaching $220.89. 317,834 shares of the company were exchanged, compared to its average volume of 304,030. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The firm has a 50 day moving average of $235.47 and a 200 day moving average of $233.54. The stock has a market cap of $8.04 billion, a P/E ratio of 39.80 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS 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%. As a group, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $265.00 price target 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $276.29.

Insider Activity

In other AppFolio news, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $760,662.27. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,039 shares of company stock valued at $1,153,454. 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.