Graham Capital Management L.P. Reduces Position in AppFolio, Inc. (NASDAQ:APPF)

Graham Capital Management L.P. decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,452 shares of the software maker's stock after selling 2,643 shares during the quarter. Graham Capital Management L.P.'s holdings in AppFolio were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. FMR LLC boosted its holdings in AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after purchasing an additional 536,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in AppFolio during the 4th quarter worth about $103,503,000. Norges Bank purchased a new stake in AppFolio in the 4th quarter valued at about $68,037,000. AQR Capital Management LLC increased its stake in AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after acquiring an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in AppFolio by 227.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock worth $57,706,000 after acquiring an additional 162,540 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Stephens reiterated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $274.43.

AppFolio Stock Up 3.4%

NASDAQ APPF traded up $7.32 on Friday, reaching $219.75. The company had a trading volume of 108,654 shares, compared to its average volume of 270,272. The stock has a market capitalization of $7.92 billion, a P/E ratio of 39.55 and a beta of 0.99. The company's fifty day moving average is $216.93 and its 200 day moving average is $231.20. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same quarter last year, the company posted $1.05 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.24% of the company's stock.

AppFolio Company 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.