AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its stake in AppFolio, Inc. (NASDAQ:APPF) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,229 shares of the software maker’s stock after acquiring an additional 437 shares during the period. Rhumbline Advisers owned 0.18% of AppFolio worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock worth $615,696,000 after purchasing an additional 91,174 shares in the last quarter. AQR Capital Management LLC grew its position in AppFolio by 43.2% in the fourth 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. FMR LLC grew its position in AppFolio by 881.2% in the fourth 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 last quarter. Gilder Gagnon Howe & Co. LLC grew its position in AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock worth $141,350,000 after buying an additional 25,566 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in AppFolio in the fourth quarter worth approximately $103,503,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares of the company’s stock, valued at $1,586,828.88. This trade represents a 12.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the sale, the chief executive officer now directly owns 70,647 shares of the company’s stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Company insiders own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Piper Sandler restated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. Finally, DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Stock Down 0.6%

APPF opened at $229.29 on Friday. The stock has a fifty day moving average of $216.64 and a 200-day moving average of $227.23. The firm has a market capitalization of $8.26 billion, a P/E ratio of 42.78 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last released its 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 during the quarter, compared to analysts’ expectations of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. AppFolio’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 EPS. On average, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

AppFolio Company 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.