1,389 Shares in AppFolio, Inc. (NASDAQ:APPF) Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC bought a new position in AppFolio, Inc. (NASDAQ:APPF) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,389 shares of the software maker’s stock, valued at approximately $305,000.

Several other hedge funds also recently bought and sold shares of APPF. FMR LLC boosted its holdings in AppFolio by 881.2% in the 4th 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 period. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio in the 4th quarter worth $103,503,000. Norges Bank bought a new position in AppFolio in the 4th quarter worth $68,037,000. AQR Capital Management LLC boosted its holdings in shares of AppFolio by 43.2% during the 4th 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 boosted its holdings in shares of AppFolio by 227.8% during the 4th 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. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several research reports. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. DA Davidson raised shares of AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a report on Friday, April 25th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $274.43.

Insider Buying and Selling

In related news, Director Timothy K. Bliss bought 7,000 shares of AppFolio stock in a transaction dated Monday, June 9th. The shares were acquired at an average cost of $217.95 per share, with a total value of $1,525,650.00. Following the completion of the transaction, the director owned 22,000 shares in the company, valued at $4,794,900. The trade was a 46.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 5,900 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer directly owned 70,647 shares in the company, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company’s stock.

AppFolio Trading Up 1.3%

Shares of NASDAQ:APPF opened at $235.58 on Friday. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company has a 50-day moving average price of $218.44 and a 200 day moving average price of $225.86. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 43.95 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The business had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same period in the previous year, the business posted $1.05 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current 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.