Banque Pictet & Cie SA Acquires Shares of 2,118 AppFolio, Inc. (NASDAQ:APPF)

Banque Pictet & Cie SA purchased a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,118 shares of the software maker's stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in APPF. Colonial Trust Co SC acquired a new stake in AppFolio during the fourth quarter worth about $28,000. Fifth Third Bancorp grew its position in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc grew its position in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after buying an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after buying an additional 208 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Performance

NASDAQ APPF traded down $7.68 during trading on Friday, reaching $237.68. 250,792 shares of the company traded hands, compared to its average volume of 267,802. The stock's 50 day moving average price is $222.09 and its two-hundred day moving average price is $225.36. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 44.34 and a beta of 0.88. 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 released its quarterly earnings data 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). The company had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. Equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the transaction, the insider owned 17,926 shares in the company, valued at approximately $4,083,363.54. The trade was a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio 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 completion of 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. Over the last 90 days, insiders purchased 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APPF shares. Keefe, Bruyette & Woods decreased their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler reissued a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. Finally, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.