Alamar Capital Management LLC Makes New Investment in AppFolio, Inc. $APPF

Alamar Capital Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,025 shares of the software maker’s stock, valued at approximately $2,529,000. AppFolio accounts for approximately 1.5% of Alamar Capital Management LLC’s portfolio, making the stock its 16th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC acquired a new position in shares of AppFolio in the third quarter valued at about $55,000. Employees Retirement System of Texas acquired a new position in shares of AppFolio in the third quarter valued at about $58,000. Finally, Harvest Fund Management Co. Ltd bought a new position in AppFolio during the third quarter worth about $69,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $162.21 on Thursday. The business has a fifty day moving average price of $164.22 and a two-hundred day moving average price of $174.44. The stock has a market capitalization of $5.74 billion, a PE ratio of 38.62 and a beta of 0.79. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same quarter last year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Insider Activity at AppFolio

In related news, CFO Timothy Mathias Eaton sold 2,585 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $160.07, for a total transaction of $413,780.95. Following the sale, the chief financial officer owned 18,036 shares in the company, valued at $2,887,022.52. The trade was a 12.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the sale, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,657 shares of company stock worth $5,310,740 over the last 90 days. 1.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APPF shares. UBS Group set a $210.00 price objective on shares of AppFolio in a research note on Friday, April 24th. Guggenheim initiated coverage on shares of AppFolio in a research report on Wednesday. They set a “buy” rating on the stock. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. Benchmark lifted their price target on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.75.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.