Raymond James Financial Inc. Makes New $30.20 Million Investment in AppFolio, Inc. (NASDAQ:APPF)

Raymond James Financial Inc. purchased a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 122,385 shares of the software maker's stock, valued at approximately $30,195,000. Raymond James Financial Inc. owned approximately 0.34% of AppFolio at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock valued at $37,965,000 after buying an additional 5,077 shares during the period. South Dakota Investment Council grew its stake in AppFolio by 94.4% in the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after purchasing an additional 1,700 shares in the last quarter. Bryce Point Capital LLC purchased a new position in shares of AppFolio during the fourth quarter valued at $1,392,000. Sei Investments Co. lifted its stake in AppFolio by 9.4% in the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock worth $11,306,000 after acquiring an additional 3,935 shares during the period. Finally, SYM FINANCIAL Corp purchased a new position in AppFolio during the 4th quarter valued at about $292,000. Institutional investors own 85.19% of the company's stock.

Insider Activity at AppFolio

In other news, Director Alexander Wolf bought 9,678 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, for a total transaction 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 $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $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. 5.24% of the stock is owned by insiders.

AppFolio Trading Up 4.2 %

Shares of NASDAQ APPF traded up $9.23 during midday trading on Wednesday, reaching $229.52. 80,393 shares of the company were exchanged, compared to its average volume of 263,559. The stock has a market cap of $8.36 billion, a P/E ratio of 41.35 and a beta of 0.86. The stock has a fifty day simple moving average of $217.95 and a 200 day simple moving average of $231.06. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.69% and a return on equity of 26.21%. As a group, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on APPF shares. Piper Sandler reiterated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. 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 reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson cut their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $272.71.

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.