GAMMA Investing LLC Raises Position in AppFolio, Inc. (NASDAQ:APPF)

GAMMA Investing LLC lifted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 46,105.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,625 shares of the software maker's stock after acquiring an additional 77,457 shares during the period. GAMMA Investing LLC owned 0.21% of AppFolio worth $170,700,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of APPF. Colonial Trust Co SC purchased a new position in AppFolio during the fourth quarter worth $28,000. Arcadia Investment Management Corp MI bought a new stake in shares of AppFolio in the 4th quarter worth about $50,000. Versant Capital Management Inc boosted its stake in shares of AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after purchasing an additional 199 shares during the period. Aster Capital Management DIFC Ltd grew its holdings in AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after purchasing an additional 206 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in AppFolio by 1,485.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after purchasing an additional 208 shares during the period. Institutional investors own 85.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and an average target price of $274.43.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the transaction, the chief executive officer now owns 70,647 shares of the company's stock, valued at $14,938,308.15. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer now owns 7,176 shares of the company's stock, valued at approximately $1,586,828.88. This represents a 12.84% decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

AppFolio Trading Down 0.2%

Shares of NASDAQ APPF traded down $0.52 during trading hours on Wednesday, reaching $217.63. The stock had a trading volume of 120,762 shares, compared to its average volume of 271,234. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 39.21 and a beta of 0.99. The business's fifty day moving average price is $215.35 and its two-hundred day moving average price is $230.15. 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 earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period last year, the firm earned $1.05 earnings per share. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research 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.