AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 40.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,600 shares of the software maker's stock after acquiring an additional 2,200 shares during the quarter. Handelsbanken Fonder AB's holdings in AppFolio were worth $1,671,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of APPF. GAMMA Investing LLC raised its stake in shares of AppFolio by 110.1% in the first quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock valued at $78,000 after acquiring an additional 185 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of AppFolio in the 1st quarter valued at $774,000. First Citizens Bank & Trust Co. bought a new position in AppFolio during the first quarter worth about $276,000. UMB Bank n.a. raised its position in AppFolio by 73.1% in the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock valued at $64,000 after buying an additional 122 shares during the last quarter. Finally, Alpha Wealth Funds LLC acquired a new position in AppFolio during the first quarter valued at approximately $880,000. Institutional investors and hedge funds own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of analyst reports. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler reiterated a "neutral" rating and set a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction that occurred 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 sale, the insider now directly owns 17,926 shares in the company, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Stock Down 0.6%

Shares of NASDAQ:APPF traded down $1.45 during midday trading on Friday, reaching $225.57. The company's stock had a trading volume of 401,237 shares, compared to its average volume of 275,634. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The stock has a fifty day moving average of $215.81 and a 200 day moving average of $229.10. The firm has a market capitalization of $8.13 billion, a PE ratio of 40.64 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) 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 analysts' expectations of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.