Sellaronda Global Management LP Takes $3.70 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Sellaronda Global Management LP acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,000 shares of the software maker's stock, valued at approximately $3,701,000. AppFolio accounts for 3.7% of Sellaronda Global Management LP's portfolio, making the stock its 11th biggest holding.

Several other hedge funds also recently bought and sold shares of APPF. Renaissance Technologies LLC grew its stake in AppFolio by 7.9% in the 4th quarter. Renaissance Technologies LLC now owns 249,900 shares of the software maker's stock worth $61,655,000 after acquiring an additional 18,200 shares in the last quarter. Rathbones Group PLC grew its stake in AppFolio by 14.2% in the fourth quarter. Rathbones Group PLC now owns 6,187 shares of the software maker's stock worth $1,526,000 after purchasing an additional 771 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in AppFolio during the 4th quarter worth $253,000. Cerity Partners LLC raised its position in AppFolio by 1.7% during the 4th quarter. Cerity Partners LLC now owns 14,898 shares of the software maker's stock valued at $3,664,000 after purchasing an additional 250 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after buying an additional 536,591 shares during the period. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Up 0.5 %

Shares of AppFolio stock traded up $1.16 during trading on Friday, reaching $224.20. The company's stock had a trading volume of 223,697 shares, compared to its average volume of 265,074. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a 50-day simple moving average of $218.26 and a two-hundred day simple moving average of $231.65. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 40.40 and a beta of 0.86.

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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 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 anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alexander Wolf bought 9,678 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the acquisition, the director now directly owns 3,226 shares of the company's stock, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the 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 transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $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.

Wall Street Analysts Forecast Growth

APPF has been the subject of several recent research reports. Piper Sandler restated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Finally, Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $276.29.

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.