Nordea Investment Management AB Invests $8.80 Million in AppFolio, Inc. $APPF

Key Points

• Nordea Investment Management opened a new position in AppFolio, buying 37,558 shares worth approximately $8.80 million, about 0.10% of the company.
• AppFolio beat the quarter with $1.39 EPS versus a $1.22 consensus and revenue of $248.19M (up 21.7% year-over-year), and analysts expect roughly 3.96 EPS for the current fiscal year.
• CEO William Shane Trigg sold 6,963 shares for about $1.18M (an 11.6% reduction in his stake), while analysts overall rate the stock a "Moderate Buy" with a consensus target of $270.83.

Nordea Investment Management AB purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,558 shares of the software maker's stock, valued at approximately $8,795,000. Nordea Investment Management AB owned about 0.10% of AppFolio at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gilbert & Cook Inc. acquired a new stake in AppFolio during the 4th quarter worth $210,000. GAMMA Investing LLC raised its position in shares of AppFolio by 20.9% during the 4th quarter. GAMMA Investing LLC now owns 573 shares of the software maker's stock valued at $133,000 after acquiring an additional 99 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of AppFolio by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 54,343 shares of the software maker's stock valued at $14,980,000 after purchasing an additional 5,348 shares during the period. Saranac Partners Ltd acquired a new position in shares of AppFolio in the 3rd quarter valued at $254,000. Finally, IFP Advisors Inc boosted its position in shares of AppFolio by 16.8% in the 3rd quarter. IFP Advisors Inc now owns 549 shares of the software maker's stock worth $151,000 after purchasing an additional 79 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Down 1.5%

APPF opened at $158.57 on Thursday. The stock has a market cap of $5.71 billion, a P/E ratio of 40.87 and a beta of 0.75. AppFolio, Inc. has a 12 month low of $155.73 and a 12 month high of $326.04. The company has a fifty day simple moving average of $185.84 and a 200 day simple moving average of $223.68.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The firm had revenue of $248.19 million for the quarter, compared to analyst estimates of $246.56 million. During the same period in the previous year, the company posted $0.92 earnings per share. The company's revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. The trade was a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded AppFolio from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, January 16th. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 30th. UBS Group set a $260.00 target price on AppFolio and gave the stock a "buy" rating in a research report on Friday, January 30th. DA Davidson lowered their price target on AppFolio from $325.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Finally, KeyCorp reiterated an "overweight" rating on shares of AppFolio in a research report on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.83.

AppFolio Company 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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