Assetmark Inc. Grows Holdings in AppFolio, Inc. (NASDAQ:APPF)

Assetmark Inc. lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 263.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,341 shares of the software maker's stock after purchasing an additional 6,771 shares during the quarter. Assetmark Inc.'s holdings in AppFolio were worth $2,054,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Cetera Investment Advisers bought a new position in shares of AppFolio during the first quarter worth approximately $404,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of AppFolio during the 1st quarter worth approximately $2,414,000. Gallacher Capital Management LLC boosted its position in shares of AppFolio by 162.8% during the 1st quarter. Gallacher Capital Management LLC now owns 2,160 shares of the software maker's stock worth $475,000 after acquiring an additional 1,338 shares in the last quarter. IFP Advisors Inc boosted its position in shares of AppFolio by 3,278.9% during the 1st quarter. IFP Advisors Inc now owns 642 shares of the software maker's stock worth $141,000 after acquiring an additional 623 shares in the last quarter. Finally, South Dakota Investment Council boosted its position in shares of AppFolio by 22.9% during the 1st quarter. South Dakota Investment Council now owns 4,300 shares of the software maker's stock worth $946,000 after acquiring an additional 800 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of AppFolio from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $205.00 to $267.00 in a research report on Thursday. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $240.00 to $350.00 in a research report on Friday. Finally, DA Davidson restated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

Insider Transactions at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction 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 directly owned 17,926 shares of the company's stock, valued at approximately $4,083,363.54. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the sale, the insider directly owned 300,000 shares of the company's stock, valued at approximately $88,542,000. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 14,639 shares valued at $3,433,222. 4.68% of the stock is currently owned by company insiders.

AppFolio Price Performance

NASDAQ APPF traded up $51.77 during mid-day trading on Friday, reaching $319.15. 1,105,219 shares of the stock were exchanged, compared to its average volume of 245,217. AppFolio, Inc. has a one year low of $189.01 and a one year high of $320.36. The stock has a 50 day simple moving average of $233.70 and a 200-day simple moving average of $226.33. The stock has a market cap of $11.50 billion, a P/E ratio of 80.29 and a beta of 0.95.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.19%. The business had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. During the same quarter last year, the firm earned $1.12 earnings per share. AppFolio's quarterly revenue was up 19.4% on a year-over-year basis. Sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

AppFolio 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.