Dark Forest Capital Management LP Buys Shares of 2,224 AppFolio, Inc. (NASDAQ:APPF)

Dark Forest Capital Management LP acquired a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,224 shares of the software maker's stock, valued at approximately $549,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its stake in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock worth $41,000 after acquiring an additional 110 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in AppFolio in the fourth quarter worth approximately $50,000. Aster Capital Management DIFC Ltd boosted its stake in AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after buying an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after buying an additional 93 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. DA Davidson cut their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, April 14th. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler restated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Finally, Stephens reissued an "overweight" rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. One 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $274.43.

AppFolio Stock Down 0.7 %

APPF traded down $1.48 during midday trading on Thursday, reaching $205.04. 136,448 shares of the company's stock were exchanged, compared to its average volume of 269,319. The business has a 50-day simple moving average of $217.43 and a two-hundred day simple moving average of $230.44. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 36.96 and a beta of 0.86. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

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 the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period in the prior year, the company posted $1.05 earnings per share. AppFolio's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the 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 transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was bought 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 $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is owned by corporate 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.