Janney Montgomery Scott LLC Acquires Shares of 1,389 AppFolio, Inc. (NASDAQ:APPF)

Janney Montgomery Scott LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,389 shares of the software maker's stock, valued at approximately $305,000.

A number of other hedge funds have also made changes to their positions in APPF. Jones Financial Companies Lllp increased its holdings in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after acquiring an additional 93 shares during the last quarter. Assetmark Inc. increased its holdings in shares of AppFolio by 7.5% during the 4th quarter. Assetmark Inc. now owns 2,570 shares of the software maker's stock valued at $634,000 after acquiring an additional 179 shares during the last quarter. Atria Investments Inc increased its holdings in shares of AppFolio by 14.5% during the 4th quarter. Atria Investments Inc now owns 1,056 shares of the software maker's stock valued at $261,000 after acquiring an additional 134 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of AppFolio during the 4th quarter valued at about $7,061,000. Finally, Arizona State Retirement System increased its holdings in shares of AppFolio by 3.7% during the 4th quarter. Arizona State Retirement System now owns 6,334 shares of the software maker's stock valued at $1,563,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Stock Up 1.3%

Shares of APPF stock traded up $2.93 during mid-day trading on Friday, reaching $235.58. The stock had a trading volume of 159,120 shares, compared to its average volume of 268,209. The firm's 50 day simple moving average is $218.44 and its 200 day simple moving average is $225.86. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The firm has a market cap of $8.49 billion, a PE ratio of 43.95 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The firm had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. AppFolio's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, Director Robert Donald Casey III bought 4,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director directly owned 27,856 shares of the company's stock, valued at $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the transaction, the chief executive officer owned 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on APPF. Keefe, Bruyette & Woods lowered 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 raised AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.