Lazard Asset Management LLC grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,561 shares of the software maker's stock after acquiring an additional 4,263 shares during the quarter. Lazard Asset Management LLC owned 0.08% of AppFolio worth $7,045,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in 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 purchasing an additional 536,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in AppFolio in the fourth quarter valued at $103,503,000. Norges Bank bought a new position in AppFolio during the 4th quarter worth $68,037,000. AQR Capital Management LLC raised its position in AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in AppFolio by 227.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock worth $57,706,000 after buying an additional 162,540 shares during the period. Institutional investors own 85.19% of the company's stock.
Analyst Upgrades and Downgrades
APPF has been the subject of several recent research reports. Piper Sandler reissued a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a research note on Wednesday, April 23rd. William Blair reissued an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Finally, DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $274.43.
Get Our Latest Stock Report on APPF
AppFolio Price Performance
Shares of AppFolio stock traded up $0.12 during trading on Tuesday, reaching $214.72. 47,814 shares of the company traded hands, compared to its average volume of 270,749. The firm has a market capitalization of $7.74 billion, a PE ratio of 38.69 and a beta of 0.99. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a 50 day moving average price of $217.11 and a 200-day moving average price of $231.51.
AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results 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 net margin of 25.69% and a return on equity of 26.21%. The company had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same period last year, the firm posted $1.05 earnings per share. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.
AppFolio Profile
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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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