KCM Investment Advisors LLC Takes $4.58 Million Position in AppFolio, Inc. $APPF

KCM Investment Advisors LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,686 shares of the software maker's stock, valued at approximately $4,580,000. KCM Investment Advisors LLC owned about 0.05% of AppFolio as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of APPF. EverSource Wealth Advisors LLC lifted its holdings in shares of AppFolio by 101.8% in the fourth 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 in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of AppFolio by 373.3% in 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% in 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 in the third quarter valued at $55,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of AppFolio in the third quarter valued at $58,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 1.0%

NASDAQ APPF opened at $161.21 on Friday. AppFolio, Inc. has a 1-year low of $142.73 and a 1-year high of $326.04. The company has a market capitalization of $5.70 billion, a PE ratio of 38.38 and a beta of 0.80. The firm's fifty day simple moving average is $160.95 and its 200-day simple moving average is $188.11.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APPF shares. UBS Group set a $210.00 target price on AppFolio in a report on Friday, April 24th. Piper Sandler reduced their target price on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Weiss Ratings lowered AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Benchmark increased their target price on AppFolio from $222.00 to $226.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded AppFolio from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.29.

Insiders Place Their Bets

In other news, insider Elizabeth Erin Barat sold 1,978 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the transaction, the insider directly owned 21,545 shares of the company's stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $546,560.00. Following the completion of the transaction, the chief executive officer directly owned 76,547 shares in the company, valued at $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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