8,656 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Davidson Kahn Capital Management LLC

Davidson Kahn Capital Management LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,656 shares of the software maker's stock, valued at approximately $1,903,000. AppFolio comprises approximately 1.5% of Davidson Kahn Capital Management LLC's investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independent Advisor Alliance boosted its stake in AppFolio by 2.1% in the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after acquiring an additional 53 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in AppFolio by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after acquiring an additional 60 shares during the last quarter. Fifth Third Bancorp boosted its stake in AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Tidal Investments LLC boosted its stake in AppFolio by 4.7% in the fourth quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after acquiring an additional 67 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in AppFolio by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock valued at $278,000 after acquiring an additional 81 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Finally, DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $274.43.

Insider Buying and Selling

In related news, Director Robert Donald Casey III purchased 4,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $217.73 per share, with a total value of $870,920.00. Following the acquisition, the director now directly owns 27,856 shares of the company's stock, valued at approximately $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 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. In the last 90 days, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. 4.68% of the stock is currently owned by insiders.

AppFolio Trading Down 0.9%

Shares of APPF stock traded down $1.96 during trading on Friday, reaching $227.33. 441,434 shares of the company's stock traded hands, compared to its average volume of 276,198. The company has a market capitalization of $8.19 billion, a P/E ratio of 42.41 and a beta of 0.87. The firm's 50-day moving average is $216.81 and its 200 day moving average is $227.03. 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 announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The business had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.