Fiera Capital Corp Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Fiera Capital Corp purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 163,238 shares of the software maker's stock, valued at approximately $35,896,000. Fiera Capital Corp owned about 0.45% of AppFolio at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Co SC purchased a new stake in AppFolio in the 4th quarter worth $28,000. Fifth Third Bancorp lifted its stake 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 in the last quarter. Versant Capital Management Inc lifted its stake 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 in the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of AppFolio by 10,300.0% during 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 in the last quarter. Finally, Blue Trust Inc. raised its position in shares of AppFolio by 330.2% during the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker's stock valued at $60,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insiders Place Their Bets

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of the firm's stock in a transaction on 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 transaction, the insider owned 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Klaus Schauser sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company's stock, valued at approximately $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 14,639 shares valued at $3,433,222. Corporate insiders own 4.68% of the company's stock.

AppFolio Stock Performance

NASDAQ:APPF traded up $51.77 during midday trading on Friday, reaching $319.15. 1,105,219 shares of the stock traded hands, compared to its average volume of 307,484. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $320.36. The business has a 50-day moving average of $233.70 and a two-hundred day moving average of $226.33. The stock has a market capitalization of $11.50 billion, a PE ratio of 59.54 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The company had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. AppFolio's revenue for the quarter was up 19.4% compared to the same quarter last year. Research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their target price for the company from $205.00 to $267.00 in a research report on Thursday. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and upped their price target for the company from $240.00 to $350.00 in a report on Friday. Finally, DA Davidson reiterated a "buy" rating and set a $350.00 price target on shares of AppFolio in a report on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $303.00.

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.