Handelsbanken Fonder AB grew its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,600 shares of the software maker's stock after acquiring an additional 2,200 shares during the period. Handelsbanken Fonder AB's holdings in AppFolio were worth $1,671,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in AppFolio by 110.1% during the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock worth $78,000 after purchasing an additional 185 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in shares of AppFolio in the first quarter valued at approximately $774,000. First Citizens Bank & Trust Co. purchased a new position in shares of AppFolio during the 1st quarter worth approximately $276,000. UMB Bank n.a. raised its position in shares of AppFolio by 73.1% during the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock worth $64,000 after purchasing an additional 122 shares during the last quarter. Finally, Alpha Wealth Funds LLC acquired a new position in shares of AppFolio during the 1st quarter worth approximately $880,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at AppFolio
In other AppFolio news, Director Timothy K. Bliss purchased 7,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $217.02 per share, for a total transaction of $1,627,650.00. Following the completion of the acquisition, the director now owns 7,500 shares of the company's stock, valued at approximately $1,627,650. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have weighed in on APPF. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Finally, DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $274.43.
Check Out Our Latest Analysis on AppFolio
AppFolio Stock Performance
NASDAQ APPF traded up $4.47 during trading hours on Wednesday, hitting $225.09. 131,077 shares of the company's stock were exchanged, compared to its average volume of 275,343. The business's 50 day moving average is $216.04 and its 200-day moving average is $228.68. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market capitalization of $8.11 billion, a P/E ratio of 41.97 and a beta of 0.87.
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). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.
About AppFolio
(
Free Report)
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.
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