AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 34.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,049 shares of the software maker's stock after acquiring an additional 1,304 shares during the period. Oppenheimer Asset Management Inc.'s holdings in AppFolio were worth $1,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in AppFolio by 4.4% in the 4th quarter. Sanctuary Advisors LLC now owns 2,958 shares of the software maker's stock valued at $750,000 after purchasing an additional 125 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of AppFolio by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 207,136 shares of the software maker's stock valued at $51,105,000 after buying an additional 5,270 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of AppFolio in the fourth quarter worth about $7,061,000. Jones Financial Companies Lllp lifted its stake in shares of AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after buying an additional 93 shares in the last quarter. Finally, Assetmark Inc. boosted its position in AppFolio by 7.5% during the fourth quarter. Assetmark Inc. now owns 2,570 shares of the software maker's stock worth $634,000 after acquiring an additional 179 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Up 1.4%

Shares of AppFolio stock traded up $3.22 during mid-day trading on Wednesday, hitting $233.03. The stock had a trading volume of 114,548 shares, compared to its average volume of 267,919. The firm has a 50-day moving average of $217.41 and a two-hundred day moving average of $226.36. The firm has a market cap of $8.40 billion, a P/E ratio of 43.41 and a beta of 0.88. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $220.95 million. During the same period last year, the company earned $1.05 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, Director Robert Donald Casey III acquired 4,000 shares of AppFolio stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the acquisition, the director owned 27,856 shares of the company's stock, valued at $6,065,086.88. This trade represents a 16.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer owned 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. 4.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APPF. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods cut their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Finally, Piper Sandler reiterated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.