TFJ Management LLC Invests $5.50 Million in AppFolio, Inc. (NASDAQ:APPF)

TFJ Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,273 shares of the software maker's stock, valued at approximately $5,495,000. AppFolio comprises approximately 4.9% of TFJ Management LLC's portfolio, making the stock its 8th biggest holding. TFJ Management LLC owned approximately 0.06% of AppFolio as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in APPF. UMB Bank n.a. boosted its holdings 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 worth $41,000 after buying an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in AppFolio during the fourth quarter worth $50,000. Aster Capital Management DIFC Ltd grew its holdings in AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after purchasing an additional 206 shares during the period. EverSource Wealth Advisors LLC increased its stake in AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of AppFolio by 60.4% during the fourth 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 during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppFolio news, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction that occurred on 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 purchase, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This 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 is accessible through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APPF. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday. Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson decreased their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, April 14th. KeyCorp lowered shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Finally, William Blair reissued an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, AppFolio currently has a consensus rating of "Hold" and an average target price of $272.71.

AppFolio Price Performance

Shares of NASDAQ APPF traded up $5.37 during mid-day trading on Wednesday, reaching $225.66. 332,989 shares of the company's stock were exchanged, compared to its average volume of 264,719. The firm has a 50-day moving average price of $218.12 and a two-hundred day moving average price of $231.02. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 40.66 and a beta of 0.86. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its 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 net margin of 25.69% and a return on equity of 26.21%. As a group, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

About AppFolio

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.