Kayne Anderson Rudnick Investment Management LLC Purchases New Holdings in AppFolio, Inc. (NASDAQ:APPF)

Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 419,518 shares of the software maker's stock, valued at approximately $103,503,000. Kayne Anderson Rudnick Investment Management LLC owned 1.15% of AppFolio at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of APPF. South Dakota Investment Council increased its holdings in shares of AppFolio by 94.4% in the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock valued at $864,000 after buying an additional 1,700 shares in the last quarter. Bryce Point Capital LLC acquired a new position in AppFolio in the 4th quarter valued at approximately $1,392,000. Hsbc Holdings PLC purchased a new stake in AppFolio in the 4th quarter worth approximately $557,000. Sei Investments Co. increased its position in AppFolio by 9.4% in the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock worth $11,306,000 after purchasing an additional 3,935 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new stake in shares of AppFolio during the 4th quarter worth about $292,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction dated Friday, May 16th. The shares were 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. Insiders own 5.24% of the company's stock.

AppFolio Trading Up 1.5%

NASDAQ APPF traded up $3.13 during trading hours on Thursday, reaching $209.42. 242,590 shares of the company's stock were exchanged, compared to its average volume of 271,466. The firm has a fifty day moving average of $216.45 and a 200-day moving average of $230.77. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock has a market cap of $7.55 billion, a PE ratio of 37.73 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. 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 posted $1.05 EPS. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Analyst Ratings Changes

APPF has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Stephens reaffirmed an "overweight" rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and an average price target of $274.43.

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.