Fiera Capital Corp Purchases 50,275 Shares of AppFolio, Inc. $APPF

Key Points

• Fiera Capital Corp boosted its AppFolio stake by 30.9% in the fourth quarter, buying 50,275 additional shares and bringing its holdings to 213,151 shares worth about $49.6 million.
• AppFolio reported better-than-expected quarterly earnings, with EPS of $1.61 versus estimates of $1.47 and revenue of $262.21 million, up 20.7% year over year.
• Despite some insider selling, Wall Street remains constructive on the stock, with nine Buy ratings, one Hold, and a consensus price target of $252.29.

Fiera Capital Corp increased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 213,151 shares of the software maker's stock after acquiring an additional 50,275 shares during the period. Fiera Capital Corp owned about 0.59% of AppFolio worth $49,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APPF. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker's stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of AppFolio by 373.3% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker's stock valued at $39,000 after purchasing an additional 112 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker's stock valued at $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of AppFolio during the third quarter valued at $55,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of AppFolio during the third quarter valued at $58,000. 85.19% of the stock is owned by institutional investors.

AppFolio Price Performance

NASDAQ:APPF opened at $164.90 on Tuesday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 39.26 and a beta of 0.80. AppFolio, Inc. has a one year low of $142.73 and a one year high of $326.04. The business has a fifty day moving average price of $160.25 and a 200-day moving average price of $189.53.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million during the quarter, compared to analyst estimates of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.AppFolio's revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. On average, equities research analysts expect that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on APPF. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. Piper Sandler dropped their price target on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Friday, April 24th. Benchmark lifted their price target on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Wall Street Zen raised shares of AppFolio from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $252.29.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,584 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the sale, the chief executive officer directly owned 76,547 shares in the company, valued at $11,673,417.50. This represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider owned 21,545 shares of the company's stock, valued at $3,406,695.40. This trade represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.57% of the company's stock.

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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