Bessemer Group Inc. Reduces Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Bessemer Group Inc. lowered its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 66.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,426 shares of the software maker's stock after selling 8,783 shares during the quarter. Bessemer Group Inc.'s holdings in AppFolio were worth $973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 valued at $615,696,000 after purchasing an additional 91,174 shares during the period. AQR Capital Management LLC raised its stake in AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares during the period. FMR LLC raised its stake in AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $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% during the 4th 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 during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in AppFolio during the 4th quarter valued at approximately $103,503,000. Institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, Director Robert Donald Casey III acquired 4,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the acquisition, the director directly owned 27,856 shares in the company, valued at $6,065,086.88. The trade was a 16.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the transaction, the chief financial officer owned 7,176 shares of the company's stock, valued at approximately $1,586,828.88. The trade was a 12.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Price Performance

Shares of AppFolio stock traded up $2.93 on Friday, reaching $235.58. The company had a trading volume of 159,120 shares, compared to its average volume of 267,686. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 43.95 and a beta of 0.88. The firm's 50-day moving average price is $218.44 and its two-hundred day moving average price is $226.03. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

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 analysts' consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on APPF shares. DA Davidson raised AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Piper Sandler restated 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 cut their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and a consensus target price of $274.43.

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.