Lecap Asset Management Ltd. Has $1.94 Million Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Lecap Asset Management Ltd. grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 114.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,842 shares of the software maker's stock after purchasing an additional 4,723 shares during the quarter. Lecap Asset Management Ltd.'s holdings in AppFolio were worth $1,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC acquired a new position in shares of AppFolio during the first quarter worth about $774,000. Rhumbline Advisers increased its holdings in AppFolio by 0.7% in the first quarter. Rhumbline Advisers now owns 64,229 shares of the software maker's stock valued at $14,124,000 after buying an additional 437 shares during the last quarter. Bryce Point Capital LLC bought a new stake in AppFolio in the fourth quarter valued at about $1,392,000. Hsbc Holdings PLC bought a new stake in AppFolio in the fourth quarter valued at about $557,000. Finally, Sei Investments Co. grew its holdings in shares of AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after purchasing an additional 3,935 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APPF shares. Piper Sandler restated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and a consensus target price of $274.43.

AppFolio Stock Performance

AppFolio stock traded down $1.96 during trading hours on Friday, reaching $227.33. 441,434 shares of the company's stock traded hands, compared to its average volume of 276,198. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm has a market capitalization of $8.19 billion, a price-to-earnings 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 (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the sale, the insider now directly owns 17,926 shares in the company, valued at $4,083,363.54. This trade represents a 20.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy K. Bliss purchased 7,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average price of $217.95 per share, for a total transaction of $1,525,650.00. Following the completion of the transaction, the director now directly owns 22,000 shares in the company, valued at $4,794,900. This trade represents a 46.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

About AppFolio

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.