Hsbc Holdings PLC Purchases Shares of 2,241 AppFolio, Inc. (NASDAQ:APPF)

Hsbc Holdings PLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,241 shares of the software maker’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Tennessee Department of Treasury boosted its position in AppFolio by 78.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 8,923 shares of the software maker’s stock worth $2,201,000 after acquiring an additional 3,923 shares during the period. Tower Research Capital LLC TRC lifted its holdings in AppFolio by 404.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,435 shares of the software maker’s stock worth $601,000 after purchasing an additional 1,952 shares during the period. TFJ Management LLC bought a new position in AppFolio in the 4th quarter valued at about $5,495,000. Transce3nd LLC acquired a new position in AppFolio during the 4th quarter valued at about $83,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of AppFolio during the 4th quarter worth about $103,503,000. 85.19% of the stock is owned by institutional investors.

AppFolio Trading Down 0.4 %

Shares of APPF opened at $213.58 on Wednesday. The business’s 50-day moving average price is $217.35 and its 200 day moving average price is $230.74. The stock has a market capitalization of $7.70 billion, a P/E ratio of 38.48 and a beta of 0.99. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other 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 value 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 can be accessed through this link. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at $692,977.06. This represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a report on Friday, April 25th. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price 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 report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Hold” and a consensus price target of $274.43.

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.