Skandinaviska Enskilda Banken AB publ Takes $550,000 Position in AppFolio, Inc. (NASDAQ:APPF)

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the software maker's stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after buying an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $103,503,000. Norges Bank acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $68,037,000. Principal Financial Group Inc. grew its position in AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after purchasing an additional 220,239 shares during the period. Finally, AQR Capital Management LLC grew its position in AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Activity at AppFolio

In related news, major shareholder Klaus Schauser sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the sale, the insider directly owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the completion of the sale, the chief financial officer owned 7,176 shares in the company, valued at $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 18,500 shares of company stock worth $4,024,220 and sold 14,639 shares worth $3,433,222. 4.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

APPF has been the subject of several research reports. Keefe, Bruyette & Woods raised shares of AppFolio from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $205.00 to $267.00 in a research report on Thursday. Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $240.00 to $350.00 in a research report on Friday. Finally, DA Davidson reissued a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research report on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $303.00.

AppFolio Stock Up 19.4%

NASDAQ:APPF traded up $51.77 during trading hours on Friday, hitting $319.15. 1,105,219 shares of the company traded hands, compared to its average volume of 307,484. The firm's 50-day simple moving average is $233.70 and its 200-day simple moving average is $226.33. AppFolio, Inc. has a one year low of $189.01 and a one year high of $320.36. The company has a market cap of $11.50 billion, a PE ratio of 59.54 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.11. The business had revenue of $235.58 million for the quarter, compared to analysts' expectations of $230.10 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business's revenue was up 19.4% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio 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.