Algert Global LLC Purchases 30,235 Shares of AppFolio, Inc. (NASDAQ:APPF)

Algert Global LLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 126.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,209 shares of the software maker's stock after purchasing an additional 30,235 shares during the period. Algert Global LLC owned 0.15% of AppFolio worth $13,374,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after buying an additional 40 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of AppFolio by 2.1% in the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after purchasing an additional 53 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in AppFolio by 11.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after purchasing an additional 65 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in AppFolio by 60.4% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after buying an additional 93 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Insider Activity

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the acquisition, the director now directly owns 3,226 shares of the company's stock, valued at $692,977.06. This represents a -150.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the 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 sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.

AppFolio Price Performance

Shares of AppFolio stock traded up $0.35 during midday trading on Friday, hitting $216.10. 99,534 shares of the company were exchanged, compared to its average volume of 324,962. The firm has a 50 day simple moving average of $217.39 and a 200-day simple moving average of $230.73. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The firm has a market cap of $7.79 billion, a P/E ratio of 38.94 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its 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 firm had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded shares of 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. Piper Sandler reiterated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $274.43.

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.