AppFolio, Inc. $APPF Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its AppFolio stake by 26% in the fourth quarter, selling 14,030 shares and leaving it with 39,965 shares valued at about $9.3 million.
• AppFolio’s latest quarter beat expectations, with EPS of $1.61 versus the $1.47 consensus and revenue of $262.21 million, up 20.7% year over year.
• Analyst sentiment remains generally positive despite recent price target cuts: AppFolio has a Moderate Buy consensus rating, with nine Buy ratings and a consensus target of $252.29.

UBS Group AG reduced its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,965 shares of the software maker's stock after selling 14,030 shares during the quarter. UBS Group AG owned about 0.11% of AppFolio worth $9,298,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of APPF. Root Financial Partners LLC acquired a new stake in shares of AppFolio in the 3rd quarter valued at approximately $31,000. TD Private Client Wealth LLC lifted its holdings in shares of AppFolio by 2,116.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker's stock valued at $37,000 after buying an additional 127 shares during the period. First Horizon Corp acquired a new stake in shares of AppFolio in the 3rd quarter valued at approximately $39,000. Hantz Financial Services Inc. lifted its holdings in shares of AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker's stock valued at $39,000 after buying an additional 112 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock valued at $53,000 after buying an additional 63 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APPF has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on AppFolio from $330.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, January 30th. UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 30th. Wall Street Zen raised AppFolio from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. Finally, DA Davidson reduced their price objective on AppFolio from $325.00 to $275.00 and set a "buy" rating for the company in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.29.

AppFolio Stock Performance

AppFolio stock opened at $151.70 on Friday. The stock has a fifty day moving average of $162.89 and a two-hundred day moving average of $199.26. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 36.12 and a beta of 0.82. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. The company had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.AppFolio's revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. On average, analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the completion of the sale, the chief executive officer owned 52,920 shares of the company's stock, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares of the company's stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.57% of the company's stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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