AppFolio, Inc. (NASDAQ:APPF) Stock Holdings Trimmed by Miura Global Management LLC

Miura Global Management LLC trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the software maker's stock after selling 9,000 shares during the period. AppFolio accounts for approximately 2.7% of Miura Global Management LLC's holdings, making the stock its 14th largest holding. Miura Global Management LLC's holdings in AppFolio were worth $2,467,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in APPF. Lazard Asset Management LLC raised its holdings in shares of AppFolio by 17.5% in the 4th quarter. Lazard Asset Management LLC now owns 28,561 shares of the software maker's stock worth $7,045,000 after purchasing an additional 4,263 shares during the period. Janus Henderson Group PLC raised its holdings in shares of AppFolio by 710.3% in the 4th quarter. Janus Henderson Group PLC now owns 75,791 shares of the software maker's stock worth $18,699,000 after purchasing an additional 66,438 shares during the period. Gotham Asset Management LLC raised its holdings in shares of AppFolio by 27.7% in the 4th quarter. Gotham Asset Management LLC now owns 3,803 shares of the software maker's stock worth $938,000 after purchasing an additional 824 shares during the period. Focus Partners Wealth raised its holdings 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 purchasing an additional 1,276 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in shares of AppFolio by 6.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 22,798 shares of the software maker's stock worth $5,625,000 after purchasing an additional 1,470 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.24% of the company's stock.

AppFolio Trading Up 3.1%

NASDAQ APPF traded up $6.48 during mid-day trading on Friday, reaching $218.91. 263,350 shares of the company's stock traded hands, compared to its average volume of 271,298. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a fifty day simple moving average of $216.93 and a 200-day simple moving average of $231.20. 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 issued 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). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same quarter last year, the business earned $1.05 EPS. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. DA Davidson upgraded AppFolio to a "strong-buy" rating in a report on Tuesday. Stephens reiterated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

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.