AQR Capital Management LLC Purchases 197,700 Shares of AppFolio, Inc. (NASDAQ:APPF)

AQR Capital Management LLC grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 43.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 655,625 shares of the software maker's stock after buying an additional 197,700 shares during the period. AQR Capital Management LLC owned approximately 1.80% of AppFolio worth $161,756,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in AppFolio by 6.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock worth $158,000 after buying an additional 40 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after acquiring an additional 53 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after acquiring an additional 60 shares in 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 last quarter. Finally, Jones Financial Companies Lllp increased its holdings in AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

Wall Street Analyst Weigh In

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

AppFolio Stock Performance

NASDAQ APPF traded up $5.43 during trading on Friday, hitting $212.06. 244,348 shares of the company's stock traded hands, compared to its average volume of 270,303. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 38.21 and a beta of 0.86. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The business has a 50 day moving average of $217.28 and a 200-day moving average of $230.37.

AppFolio (NASDAQ:APPF - Get Free Report) last released 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 analysts' expectations of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction dated 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 completion of the transaction, the director now directly 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. 5.24% of the stock is currently owned by insiders.

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.