Proficio Capital Partners LLC Buys New Shares in AppFolio, Inc. (NASDAQ:APPF)

Proficio Capital Partners LLC bought a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,620 shares of the software maker's stock, valued at approximately $7,061,000. Proficio Capital Partners LLC owned about 0.08% of AppFolio as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of APPF. UMB Bank n.a. grew its position 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 last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of AppFolio during the 4th quarter valued at about $50,000. Jones Financial Companies Lllp grew its position 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 buying an additional 93 shares during the last quarter. Blue Trust Inc. grew its position in shares of AppFolio by 126.5% during the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock valued at $62,000 after buying an additional 148 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of AppFolio during the 3rd quarter valued at about $79,000. Institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred 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. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander Wolf bought 9,678 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.24% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reaffirmed an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a research 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $276.29.

AppFolio Trading Down 0.7 %

AppFolio stock traded down $1.48 during midday trading on Thursday, reaching $215.51. 175,646 shares of the stock traded hands, compared to its average volume of 265,724. The firm has a fifty day moving average price of $229.17 and a two-hundred day moving average price of $232.68. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 38.83 and a beta of 0.89. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week 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 earnings per share 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%. Analysts anticipate 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.