Quantinno Capital Management LP raised its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,441 shares of the software maker's stock after purchasing an additional 9,225 shares during the quarter. Quantinno Capital Management LP owned 0.14% of AppFolio worth $7,961,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of AppFolio by 20.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker's stock valued at $237,665,000 after buying an additional 259,933 shares in the last quarter. Lead Edge Capital Management LLC purchased a new position in AppFolio in the first quarter worth about $33,183,000. Greenstone Partners & Co. LLC purchased a new position in AppFolio in the fourth quarter worth about $43,647,000. Millennium Management LLC increased its stake in AppFolio by 158.6% during the fourth quarter. Millennium Management LLC now owns 281,495 shares of the software maker's stock worth $65,490,000 after acquiring an additional 172,627 shares during the last quarter. Finally, Caledonia Private Investments Pty Ltd raised its position in AppFolio by 45.9% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 332,635 shares of the software maker's stock valued at $77,388,000 after purchasing an additional 104,609 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
APPF has been the subject of a number of recent research reports. DA Davidson set a $225.00 target price on AppFolio in a report on Friday, July 24th. Benchmark raised their price target on AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Zacks Research upgraded shares of AppFolio from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, UBS Group set a $210.00 target price on shares of AppFolio in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, AppFolio currently has a consensus rating of "Buy" and a consensus price target of $243.50.
Get Our Latest Stock Analysis on APPF
Insiders Place Their Bets
In other news, major shareholder Maurice J. Duca sold 3,500 shares of AppFolio stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $188.89, for a total transaction of $661,115.00. Following the completion of the sale, the insider directly owned 66,662 shares in the company, valued at approximately $12,591,785.18. This trade represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,957 shares of company stock valued at $13,959,729 in the last 90 days. Company insiders own 1.57% of the company's stock.
AppFolio Stock Performance
APPF opened at $199.53 on Wednesday. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 45.55 and a beta of 0.78. The stock's 50 day moving average price is $167.65 and its 200-day moving average price is $171.45. AppFolio, Inc. has a one year low of $142.56 and a one year high of $323.33.
AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The firm had revenue of $281.12 million for the quarter, compared to the consensus estimate of $277.35 million. During the same period in the prior year, the business posted $1.38 earnings per share. The company's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current fiscal year.
AppFolio Profile
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Free Report)
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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