Brown Advisory Inc. Purchases New Position in AppFolio, Inc. (NASDAQ:APPF)

Brown Advisory Inc. acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 126,419 shares of the software maker's stock, valued at approximately $27,800,000. Brown Advisory Inc. owned approximately 0.35% of AppFolio as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APPF. Vanguard Group Inc. increased its position in shares of AppFolio by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock worth $615,696,000 after purchasing an additional 91,174 shares in the last quarter. AQR Capital Management LLC grew 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 worth $161,756,000 after buying an additional 197,700 shares during the last quarter. FMR LLC increased its position 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 buying an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position 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 buying an additional 25,566 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in AppFolio in the fourth quarter valued at about $103,503,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Donald Casey III bought 4,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $217.73 per share, with a total value of $870,920.00. Following the completion of the acquisition, the director directly owned 27,856 shares in the company, valued at approximately $6,065,086.88. The trade was a 16.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the sale, the insider directly owned 17,926 shares in the company, valued at $4,083,363.54. The trade was a 20.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

AppFolio Price Performance

APPF traded down $7.68 during trading on Friday, reaching $237.68. 250,792 shares of the company's stock were exchanged, compared to its average volume of 268,843. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The company's fifty day simple moving average is $222.09 and its 200-day simple moving average is $225.74. The stock has a market capitalization of $8.56 billion, a P/E ratio of 44.34 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same period last year, the business earned $1.05 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APPF shares. DA Davidson upgraded 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 research note on Wednesday, April 23rd. Finally, 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 note on Friday, April 25th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and a consensus price target 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.