Alps Advisors Inc. Purchases Shares of 1,660 AppFolio, Inc. (NASDAQ:APPF)

Alps Advisors Inc. acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 1,660 shares of the software maker's stock, valued at approximately $365,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock worth $615,696,000 after purchasing an additional 91,174 shares in the last quarter. AQR Capital Management LLC lifted its holdings in AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after purchasing an additional 197,700 shares in the last quarter. FMR LLC lifted its holdings in AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after purchasing an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in AppFolio by 4.7% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after purchasing an additional 25,566 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio in the 4th quarter worth approximately $103,503,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Performance

NASDAQ:APPF traded down $0.50 during trading hours on Friday, reaching $253.48. The stock had a trading volume of 13,521 shares, compared to its average volume of 267,116. The stock has a market capitalization of $9.13 billion, a PE ratio of 47.29 and a beta of 0.88. The company has a 50 day moving average price of $224.58 and a two-hundred day moving average price of $225.60. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The company 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%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on APPF shares. DA Davidson raised AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Piper Sandler boosted their price target on AppFolio from $208.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $261.33.

Insider Buying and Selling

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the completion of the sale, the insider directly owned 17,926 shares in the company, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Donald Casey III acquired 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average price of $217.73 per share, with a total value of $870,920.00. Following the completion of the purchase, the director directly owned 27,856 shares in the company, valued at $6,065,086.88. The trade was a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company's stock.

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.