Capital Impact Advisors LLC Buys 92,936 Shares of AppFolio, Inc. $APPF

Key Points

• Capital Impact Advisors LLC increased its AppFolio stake by 262.7% in the fourth quarter, buying 92,936 additional shares and bringing its total to 128,314 shares worth about $29.85 million.
• AppFolio’s latest earnings beat expectations, with Q1 EPS of $1.61 versus the $1.47 consensus and revenue of $262.21 million, up 20.7% year over year.
• Despite positive analyst sentiment and a Moderate Buy consensus, insider selling has continued, including recent sales by the CEO and general counsel, while the stock traded down 5.9% to $148.59.

Capital Impact Advisors LLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 262.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 128,314 shares of the software maker's stock after purchasing an additional 92,936 shares during the quarter. AppFolio accounts for about 2.3% of Capital Impact Advisors LLC's investment portfolio, making the stock its 25th biggest position. Capital Impact Advisors LLC owned about 0.36% of AppFolio worth $29,852,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in APPF. EverSource Wealth Advisors LLC increased its holdings in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock worth $26,000 after purchasing an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock worth $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC bought a new position in shares of AppFolio during the 3rd quarter worth about $55,000. Employees Retirement System of Texas bought a new position in shares of AppFolio during the 3rd quarter worth about $58,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AppFolio during the 3rd quarter worth about $69,000. Institutional investors own 85.19% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on APPF. Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Wall Street Zen raised shares of AppFolio from a "hold" rating to a "buy" rating in a research note on Sunday, March 15th. Piper Sandler lowered their target price on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Weiss Ratings cut shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 11th. Finally, UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and an average target price of $252.29.

Insider Activity

In other AppFolio news, General Counsel Evan Pickering sold 660 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $155.25, for a total value of $102,465.00. Following the transaction, the general counsel directly owned 6,555 shares in the company, valued at $1,017,663.75. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Shane Trigg sold 3,584 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the completion of the transaction, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,957 shares of company stock valued at $1,399,501 in the last ninety days. 1.57% of the stock is currently owned by corporate insiders.

AppFolio Stock Down 5.9%

NASDAQ APPF opened at $148.59 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of 35.38 and a beta of 0.80. The company's 50-day simple moving average is $160.77 and its 200 day simple moving average is $186.28. AppFolio, Inc. has a twelve month low of $142.73 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.14. The business had revenue of $262.21 million for the quarter, compared to analysts' expectations of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Research analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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