AppFolio, Inc. (NASDAQ:APPF) Holdings Raised by UMB Bank n.a.

UMB Bank n.a. grew its position in AppFolio, Inc. (NASDAQ:APPF) by 73.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289 shares of the software maker’s stock after acquiring an additional 122 shares during the quarter. UMB Bank n.a.’s holdings in AppFolio were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in APPF. FMR LLC increased 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 valued at $147,411,000 after acquiring an additional 536,591 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio during the 4th quarter worth $103,503,000. Norges Bank bought a new position in AppFolio during the 4th quarter worth $68,037,000. AQR Capital Management LLC grew its stake in AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock worth $161,756,000 after buying an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in AppFolio by 227.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock worth $57,706,000 after buying an additional 162,540 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on APPF shares. Keefe, Bruyette & Woods lowered their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Piper Sandler restated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, DA Davidson upgraded AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Stock Performance

Shares of APPF stock opened at $225.57 on Friday. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The stock has a fifty day moving average of $215.81 and a two-hundred day moving average of $229.28. The firm has a market capitalization of $8.13 billion, a PE ratio of 40.64 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last announced 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). The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. Equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Donald Casey III bought 4,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were bought at an average cost of $217.73 per share, with a total value of $870,920.00. Following the completion of the transaction, the director now directly owns 27,856 shares of the company’s stock, valued at approximately $6,065,086.88. This trade represents a 16.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company’s stock.

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.