Johnson Investment Counsel Inc. Purchases Shares of 10,820 AppFolio, Inc. (NASDAQ:APPF)

Johnson Investment Counsel Inc. purchased a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,820 shares of the software maker's stock, valued at approximately $2,379,000.

Several other hedge funds have also recently bought and sold shares of the stock. Colonial Trust Co SC acquired a new stake in AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp raised its position in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc raised its position in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after purchasing an additional 199 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in AppFolio during the 4th quarter worth $50,000. Finally, Aster Capital Management DIFC Ltd boosted its position in AppFolio by 10,300.0% in the 4th 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 during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In related news, Director Timothy K. Bliss acquired 7,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $217.02 per share, with a total value of $1,627,650.00. Following the transaction, the director now owns 7,500 shares of the company's stock, valued at $1,627,650. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the sale, the insider now directly owns 17,926 shares in the company, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Performance

APPF traded up $4.05 during midday trading on Tuesday, reaching $232.58. 230,175 shares of the company were exchanged, compared to its average volume of 275,311. The stock has a market capitalization of $8.38 billion, a P/E ratio of 43.39 and a beta of 0.87. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock's 50-day simple moving average is $215.96 and its 200 day simple moving average is $227.35.

AppFolio (NASDAQ:APPF - Get Free Report) last released 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 25.83% and a net margin of 23.87%. 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 previous year, the business earned $1.05 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APPF. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

About AppFolio

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.