Mercer Global Advisors Inc. ADV Has $552,000 Position in AppFolio, Inc. (NASDAQ:APPF)

Mercer Global Advisors Inc. ADV grew its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 151.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,238 shares of the software maker's stock after acquiring an additional 1,349 shares during the period. Mercer Global Advisors Inc. ADV's holdings in AppFolio were worth $552,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after acquiring an additional 91,174 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of 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 in the last quarter. FMR LLC raised its stake 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 acquiring an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in AppFolio by 4.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock worth $141,350,000 after acquiring an additional 25,566 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio during the 4th quarter worth $103,503,000. Institutional investors and hedge funds own 85.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APPF. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler restated a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. William Blair reissued an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reissued an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $274.43.

AppFolio Price Performance

APPF traded up $6.48 during trading on Friday, hitting $218.91. The company had a trading volume of 263,350 shares, compared to its average volume of 271,707. The company has a market cap of $7.89 billion, a PE ratio of 39.44 and a beta of 0.99. The business has a 50-day moving average of $217.02 and a 200-day moving average of $231.47. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56.

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

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.