Aquatic Capital Management LLC Invests $2.92 Million in AppFolio, Inc. (NASDAQ:APPF)

Aquatic Capital Management LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,833 shares of the software maker's stock, valued at approximately $2,919,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APPF. FMR LLC raised its holdings in shares of 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 period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of AppFolio in the fourth quarter worth approximately $103,503,000. Norges Bank purchased a new stake in shares of AppFolio in the fourth quarter worth approximately $68,037,000. Lord Abbett & CO. LLC raised its holdings in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after buying an additional 207,204 shares during the period. 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 worth $57,706,000 after buying an additional 162,540 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APPF has been the topic of several recent analyst reports. DA Davidson reduced their price target on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler restated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, AppFolio presently has an average rating of "Hold" and an average price target of $274.43.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the sale, the chief executive officer now owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander Wolf purchased 9,678 shares of the company's stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. The trade was a -150.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 5.24% of the company's stock.

AppFolio Price Performance

NASDAQ APPF traded up $0.11 during midday trading on Thursday, hitting $206.63. 406,869 shares of the company traded hands, compared to its average volume of 270,250. The company has a market cap of $7.52 billion, a PE ratio of 37.23 and a beta of 0.86. The company's 50-day simple moving average is $217.43 and its 200-day simple moving average is $230.44. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share 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 analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. On average, research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

About AppFolio

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.