Davidson Kahn Capital Management LLC Makes New $1.90 Million Investment in AppFolio, Inc. (NASDAQ:APPF)

Davidson Kahn Capital Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,656 shares of the software maker's stock, valued at approximately $1,903,000. AppFolio makes up 1.5% of Davidson Kahn Capital Management LLC's portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC bought a new position in shares of AppFolio in the 1st quarter worth about $774,000. South Dakota Investment Council lifted its holdings in AppFolio by 94.4% in the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after acquiring an additional 1,700 shares during the last quarter. Bryce Point Capital LLC acquired a new position in AppFolio in the fourth quarter valued at approximately $1,392,000. Hsbc Holdings PLC bought a new position in shares of AppFolio during the fourth quarter valued at approximately $557,000. Finally, Sei Investments Co. grew its holdings in shares of AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after purchasing an additional 3,935 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APPF. Piper Sandler reissued a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. DA Davidson raised AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods reduced their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and a consensus target price of $274.43.

AppFolio Trading Down 0.8%

NASDAQ:APPF traded down $1.79 during mid-day trading on Wednesday, reaching $230.79. 240,210 shares of the stock were exchanged, compared to its average volume of 275,574. The business has a fifty day moving average price of $216.17 and a 200 day moving average price of $227.39. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The firm has a market capitalization of $8.32 billion, a PE ratio of 43.06 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $220.95 million. During the same period in the prior year, the firm earned $1.05 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the transaction, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

About AppFolio

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.