Man Group plc Acquires 17,614 Shares of AppFolio, Inc. (NASDAQ:APPF)

Man Group plc grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,729 shares of the software maker's stock after purchasing an additional 17,614 shares during the period. Man Group plc owned about 0.18% of AppFolio worth $15,723,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in APPF. Vanguard Group Inc. increased its stake in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock worth $615,696,000 after acquiring an additional 91,174 shares during the period. AQR Capital Management LLC increased its position in shares of AppFolio by 43.2% in the fourth 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 during the period. FMR LLC increased its position in shares of AppFolio by 881.2% in the fourth 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 during the period. Gilder Gagnon Howe & Co. LLC raised its stake in AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock valued at $141,350,000 after purchasing an additional 25,566 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in AppFolio during the fourth quarter worth about $103,503,000. 85.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods lowered their price objective on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Piper Sandler restated a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $274.43.

Insider Activity

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

AppFolio Stock Down 0.5%

AppFolio stock traded down $1.13 during trading hours on Tuesday, hitting $213.47. The stock had a trading volume of 163,596 shares, compared to its average volume of 271,587. The business's 50 day simple moving average is $217.24 and its 200-day simple moving average is $231.39. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 38.46 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

AppFolio Company Profile

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.