Portside Wealth Group LLC Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Portside Wealth Group LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,521 shares of the software maker's stock, valued at approximately $774,000.

A number of other large investors also recently bought and sold shares of the stock. Independent Advisor Alliance grew its stake in AppFolio by 2.1% during the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after buying an additional 53 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after acquiring an additional 60 shares in the last quarter. Tidal Investments LLC boosted its position in AppFolio by 4.7% during the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock worth $368,000 after purchasing an additional 67 shares during the period. ProShare Advisors LLC boosted its position in AppFolio by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock worth $278,000 after purchasing an additional 81 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 5,900 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer now directly owns 7,176 shares in the company, valued at approximately $1,586,828.88. This trade represents a 12.84% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 18,500 shares of company stock valued at $4,024,220 over the last three months. 4.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on APPF. Piper Sandler restated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped 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. Finally, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and an average price target of $274.43.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $10.49 during trading on Tuesday, hitting $228.44. The company's stock had a trading volume of 548,418 shares, compared to its average volume of 273,231. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The company has a market capitalization of $8.23 billion, a PE ratio of 41.16 and a beta of 0.87. The stock's 50-day moving average price is $214.91 and its two-hundred day moving average price is $229.67.

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 the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. AppFolio's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.