Miura Global Management LLC lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the software maker's stock after selling 9,000 shares during the period. AppFolio makes up approximately 2.7% of Miura Global Management LLC's portfolio, making the stock its 14th biggest holding. Miura Global Management LLC's holdings in AppFolio were worth $2,467,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. South Dakota Investment Council raised its stake in AppFolio by 94.4% during the fourth 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 during the period. Bryce Point Capital LLC purchased a new position in shares of AppFolio in the 4th quarter valued at $1,392,000. Hsbc Holdings PLC purchased a new position in shares of AppFolio in the 4th quarter valued at $557,000. Sei Investments Co. raised its stake in shares of 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 acquiring an additional 3,935 shares during the period. Finally, SYM FINANCIAL Corp purchased a new position in shares of AppFolio in the 4th quarter valued at $292,000. Hedge funds and other institutional investors own 85.19% of the company's stock.
AppFolio Price Performance
APPF traded up $6.48 on Friday, reaching $218.91. 263,350 shares of the company traded hands, compared to its average volume of 271,707. The stock's 50 day moving average price is $217.02 and its 200-day moving average price is $231.31. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 39.44 and a beta of 0.99.
AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The business's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.
Insider Buying and Selling at AppFolio
In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on APPF. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Stephens reissued an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.43.
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About AppFolio
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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.
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