Yousif Capital Management LLC Has $1.74 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Yousif Capital Management LLC trimmed its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,925 shares of the software maker’s stock after selling 148 shares during the period. Yousif Capital Management LLC’s holdings in AppFolio were worth $1,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in 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 buying an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio during the fourth quarter worth $103,503,000. Norges Bank bought a new position in shares of AppFolio in the fourth quarter valued at $68,037,000. AQR Capital Management LLC raised its holdings in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of AppFolio by 227.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock valued at $57,706,000 after purchasing an additional 162,540 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Up 0.9%

Shares of APPF opened at $227.58 on Tuesday. The company has a market capitalization of $8.20 billion, a P/E ratio of 41.01 and a beta of 0.87. The firm has a 50 day moving average of $216.20 and a 200 day moving average of $228.74. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. During the same period in the previous year, the company earned $1.05 EPS. AppFolio’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,586,828.88. This represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the transaction, the insider now owns 17,926 shares of the company’s stock, valued at $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. 4.68% of the stock is currently owned by insiders.

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.