Bridgewater Associates LP Boosts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Bridgewater Associates LP grew its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,301 shares of the software maker's stock after purchasing an additional 2,156 shares during the period. Bridgewater Associates LP owned approximately 0.21% of AppFolio worth $19,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in APPF. Tidal Investments LLC raised its stake in shares of AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock valued at $335,000 after acquiring an additional 40 shares during the period. Exchange Traded Concepts LLC increased its holdings in AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after buying an additional 40 shares during the last quarter. Independent Advisor Alliance raised its position in shares of AppFolio by 2.1% during 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 in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after buying an additional 60 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after acquiring an additional 65 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Down 3.9 %

Shares of AppFolio stock traded down $8.45 on Monday, hitting $210.33. The company's stock had a trading volume of 27,442 shares, compared to its average volume of 263,801. The company has a market capitalization of $7.66 billion, a P/E ratio of 37.90 and a beta of 0.86. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The firm has a fifty day moving average price of $217.92 and a 200-day moving average price of $231.26.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS 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, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on APPF. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. DA Davidson dropped their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $272.71.

Insiders Place Their Bets

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 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 owns 83,824 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This trade represents 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 company insiders.

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.