Belpointe Asset Management LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Belpointe Asset Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,574 shares of the software maker's stock, valued at approximately $597,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of AppFolio by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock worth $615,696,000 after purchasing an additional 91,174 shares in the last quarter. FMR LLC increased its position in AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after buying an additional 536,591 shares during the period. Lord Abbett & CO. LLC lifted its stake in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after buying an additional 207,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AppFolio by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 416,508 shares of the software maker's stock valued at $102,791,000 after acquiring an additional 3,476 shares during the period. Finally, DF Dent & Co. Inc. grew its position in shares of AppFolio by 17.7% during the fourth quarter. DF Dent & Co. Inc. now owns 413,968 shares of the software maker's stock worth $102,134,000 after acquiring an additional 62,277 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the company'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 transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. 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 target on shares of AppFolio in a report on Friday, January 31st. Finally, DA Davidson lowered their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $272.71.

AppFolio Stock Up 1.8 %

Shares of APPF traded up $3.74 during trading on Tuesday, reaching $213.64. The company's stock had a trading volume of 29,977 shares, compared to its average volume of 263,557. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 38.51 and a beta of 0.86. The company has a fifty day moving average of $217.85 and a two-hundred day moving average of $231.14.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.