SG Americas Securities LLC Has $3.98 Million Holdings in AppFolio, Inc. $APPF

Key Points

• SG Americas Securities LLC boosted its AppFolio stake by 666.2% in the first quarter, ending with 25,185 shares worth about $3.98 million. Institutional investors and hedge funds now own 85.19% of the company.
• AppFolio reported strong quarterly earnings, posting $1.61 EPS versus estimates of $1.47 and revenue of $262.21 million, up 20.7% year over year. Analysts currently expect the company to earn 5.04 EPS for the full year.
• Wall Street remains generally upbeat, with nine Buy ratings and one Hold rating, giving AppFolio a consensus rating of Moderate Buy and an average price target of $252.29. Meanwhile, two insiders recently sold shares, including CEO William Shane Trigg.

SG Americas Securities LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 666.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,185 shares of the software maker's stock after acquiring an additional 21,898 shares during the period. SG Americas Securities LLC owned about 0.07% of AppFolio worth $3,975,000 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. Rockefeller Capital Management L.P. grew its position in shares of AppFolio by 90,272.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 52,416 shares of the software maker's stock valued at $12,195,000 after purchasing an additional 52,358 shares during the period. Pacer Advisors Inc. lifted its stake in AppFolio by 17.7% in the fourth quarter. Pacer Advisors Inc. now owns 3,566 shares of the software maker's stock valued at $830,000 after buying an additional 536 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of AppFolio by 5.2% in the fourth quarter. Invesco Ltd. now owns 416,260 shares of the software maker's stock valued at $96,843,000 after buying an additional 20,609 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of AppFolio by 66.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,105 shares of the software maker's stock worth $490,000 after acquiring an additional 842 shares in the last quarter. Finally, Caitlin John LLC acquired a new stake in shares of AppFolio during the fourth quarter worth $499,000. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Stock Performance

APPF opened at $156.57 on Tuesday. The business's 50-day simple moving average is $160.55 and its 200 day simple moving average is $181.63. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04. The firm has a market capitalization of $5.54 billion, a PE ratio of 37.28 and a beta of 0.80.

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 the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, research analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research reports. Wall Street Zen upgraded AppFolio from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, April 24th. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Weiss Ratings downgraded shares of AppFolio from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Finally, Benchmark boosted their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and a consensus target price of $252.29.

Insider Activity

In other news, insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the transaction, the insider owned 21,545 shares of the company's stock, valued at $3,406,695.40. This trade represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the transaction, the chief executive officer owned 76,547 shares in the company, valued at $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,957 shares of company stock valued at $1,399,501 in the last ninety days. Corporate insiders own 1.57% of the company's stock.

About AppFolio

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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