Insider Buying: AppFolio, Inc. (NASDAQ:APPF) Director Acquires 4,000 Shares of Stock

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) Director Robert Donald Casey III acquired 4,000 shares of AppFolio stock in a transaction on Friday, June 6th. The shares were bought at an average price of $217.73 per share, with a total value of $870,920.00. Following the purchase, the director now directly owns 27,856 shares in the company, valued at approximately $6,065,086.88. The trade was a 16.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

AppFolio Stock Performance

Shares of APPF stock traded up $1.21 on Wednesday, reaching $229.65. 81,473 shares of the company were exchanged, compared to its average volume of 273,028. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The business has a 50-day moving average price of $214.99 and a 200 day moving average price of $229.66. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 41.45 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data 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 return on equity of 26.21% and a net margin of 25.69%. The firm had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same quarter last year, the firm posted $1.05 earnings per share. AppFolio's quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Hedge Funds Weigh In On AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of the business. South Dakota Investment Council lifted its stake in AppFolio by 94.4% in the 4th quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after purchasing an additional 1,700 shares in the last quarter. Bryce Point Capital LLC purchased a new position in AppFolio during the fourth quarter worth approximately $1,392,000. Hsbc Holdings PLC acquired a new position in AppFolio during the fourth quarter worth $557,000. Sei Investments Co. grew its holdings in AppFolio by 9.4% in the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after buying an additional 3,935 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of AppFolio by 54.9% in the 4th quarter. Focus Partners Wealth now owns 3,599 shares of the software maker's stock worth $888,000 after acquiring an additional 1,276 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.