Wealth Enhancement Advisory Services LLC Grows Position in AppFolio, Inc. $APPF

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in AppFolio by 263.4% in Q4, buying an additional 79,069 shares to hold 109,089 shares worth about $25.62 million (≈0.30% of the company).
• CEO William Shane Trigg sold 6,963 shares on Feb. 17 at an average of $169.73 for roughly $1.18 million, reducing his holding by 11.63% to 52,920 shares; company insiders now own 4.68% of the stock.
• Analyst sentiment is largely positive with 8 buys and 1 hold and an average target of $270.83, though some firms have downgraded or cut targets (e.g., Weiss to hold; Piper Sandler cut its target to $245).

Wealth Enhancement Advisory Services LLC grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 263.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,089 shares of the software maker's stock after purchasing an additional 79,069 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.30% of AppFolio worth $25,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in APPF. Root Financial Partners LLC purchased a new position in shares of AppFolio in the 3rd quarter valued at about $31,000. TD Private Client Wealth LLC grew its position in AppFolio by 2,116.7% during the third quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker's stock worth $37,000 after buying an additional 127 shares during the period. First Horizon Corp purchased a new position in AppFolio in the third quarter valued at about $39,000. Hantz Financial Services Inc. increased its holdings in AppFolio by 373.3% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker's stock valued at $39,000 after buying an additional 112 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of AppFolio by 2,200.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 184 shares of the software maker's stock valued at $51,000 after acquiring an additional 176 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total value of $1,181,829.99. Following the transaction, the chief executive officer directly owned 52,920 shares in the company, valued at approximately $8,982,111.60. This represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group set a $260.00 price target on AppFolio and gave the stock a "buy" rating in a report on Friday, January 30th. Wells Fargo & Company reissued a "buy" rating on shares of AppFolio in a report on Thursday, January 15th. Weiss Ratings downgraded AppFolio from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, January 16th. William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 30th. Finally, Piper Sandler dropped their target price on shares of AppFolio from $350.00 to $245.00 and set an "overweight" rating for the company in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $270.83.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $161.05 on Wednesday. The business's fifty day moving average price is $186.93 and its two-hundred day moving average price is $224.14. The stock has a market cap of $5.80 billion, a PE ratio of 41.51 and a beta of 0.75. AppFolio, Inc. has a one year low of $158.71 and a one year high of $326.04.

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

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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