Janney Montgomery Scott LLC Invests $305,000 in AppFolio, Inc. (NASDAQ:APPF)

Janney Montgomery Scott LLC bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 1,389 shares of the software maker's stock, valued at approximately $305,000.

A number of other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in AppFolio by 60.4% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after purchasing an additional 93 shares during the last quarter. Assetmark Inc. increased its holdings in shares of AppFolio by 7.5% during the fourth quarter. Assetmark Inc. now owns 2,570 shares of the software maker's stock worth $634,000 after purchasing an additional 179 shares during the period. Atria Investments Inc increased its holdings in shares of AppFolio by 14.5% during the fourth quarter. Atria Investments Inc now owns 1,056 shares of the software maker's stock worth $261,000 after purchasing an additional 134 shares during the period. Proficio Capital Partners LLC bought a new position in shares of AppFolio during the fourth quarter worth approximately $7,061,000. Finally, Arizona State Retirement System increased its stake in AppFolio by 3.7% in the fourth 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 own 85.19% of the company's stock.

AppFolio Trading Up 1.4%

APPF traded up $3.36 during trading on Wednesday, hitting $246.39. 175,429 shares of the company traded hands, compared to its average volume of 268,623. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The company has a market cap of $8.88 billion, a PE ratio of 45.97 and a beta of 0.88. The stock's 50-day simple moving average is $220.81 and its two-hundred day simple moving average is $225.86.

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

Wall Street Analyst Weigh In

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

Insider Activity at AppFolio

In other AppFolio news, Director Robert Donald Casey III bought 4,000 shares of AppFolio stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the completion of the transaction, the director directly owned 27,856 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Also, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer directly owned 70,647 shares in the company, valued at approximately $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company's stock.

AppFolio Company 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.