Zions Bancorporation National Association UT acquired a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,794 shares of the software maker's stock, valued at approximately $1,274,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of AppFolio by 11.4% during the fourth quarter. Alliancebernstein L.P. now owns 30,749 shares of the software maker's stock worth $7,586,000 after purchasing an additional 3,142 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of AppFolio by 2.3% during the fourth quarter. Russell Investments Group Ltd. now owns 33,901 shares of the software maker's stock worth $8,364,000 after purchasing an additional 755 shares in the last quarter. FMR LLC increased its stake in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after purchasing an additional 536,591 shares in the last quarter. Cerity Partners LLC increased its stake in shares of AppFolio by 1.7% during the fourth quarter. Cerity Partners LLC now owns 14,898 shares of the software maker's stock worth $3,664,000 after purchasing an additional 250 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AppFolio during the fourth quarter worth about $30,195,000. Hedge funds and other institutional investors own 85.19% of the company's stock.
AppFolio Price Performance
Shares of NASDAQ:APPF opened at $283.36 on Friday. The stock has a market cap of $10.16 billion, a P/E ratio of 51.15 and a beta of 0.95. The firm has a fifty day moving average price of $245.54 and a 200 day moving average price of $228.43. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04.
AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The firm had revenue of $235.58 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter in the prior year, the business earned $1.12 EPS. AppFolio's quarterly revenue was up 19.4% compared to the same quarter last year. Sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.
Insider Activity
In other news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer directly owned 70,647 shares in the company, valued at $14,938,308.15. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Donald Casey III purchased 4,000 shares of the stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $217.73 per share, with a total value of $870,920.00. Following the completion of the acquisition, the director owned 27,856 shares of the company's stock, valued at approximately $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 31,439 shares worth $8,628,860. Insiders own 4.68% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on APPF shares. Piper Sandler upgraded shares of AppFolio from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $350.00 target price on shares of AppFolio in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods upgraded shares of AppFolio from an "underperform" rating to a "market perform" rating and upped their price objective for the stock from $205.00 to $267.00 in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.00.
Read Our Latest Analysis on AppFolio
AppFolio Company Profile
(
Free Report)
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.
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