Envestnet Portfolio Solutions Inc. Acquires Shares of 1,908 AppFolio, Inc. (NASDAQ:APPF)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,908 shares of the software maker's stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Colonial Trust Co SC purchased a new stake in shares of AppFolio in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp increased its stake in shares of 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 purchasing an additional 62 shares in the last quarter. Versant Capital Management Inc lifted its stake in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after buying an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% during the 4th 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 boosted its stake in shares of AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Insider Activity at AppFolio

In related news, Director Timothy K. Bliss acquired 7,000 shares of AppFolio stock in a transaction dated Monday, June 9th. The stock was acquired at an average price of $217.95 per share, for a total transaction of $1,525,650.00. Following the transaction, the director owned 22,000 shares of the company's stock, valued at $4,794,900. This represents a 46.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,066,512.78. Following the sale, the insider owned 17,926 shares in the company, valued at $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Trading Down 0.2%

NASDAQ:APPF traded down $0.47 during mid-day trading on Tuesday, hitting $229.81. The stock had a trading volume of 329,413 shares, compared to its average volume of 268,430. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market capitalization of $8.28 billion, a PE ratio of 42.88 and a beta of 0.88. The stock has a 50-day simple moving average of $217.41 and a two-hundred day simple moving average of $226.36.

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 (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The company's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. Sell-side analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target 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. Piper Sandler reissued a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $274.43.

AppFolio 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.