Long Walk Management LP Buys 47,000 Shares of AppFolio, Inc. (NASDAQ:APPF)

Long Walk Management LP lifted its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,000 shares of the software maker's stock after purchasing an additional 47,000 shares during the quarter. AppFolio comprises 13.7% of Long Walk Management LP's holdings, making the stock its 4th largest position. Long Walk Management LP owned approximately 0.34% of AppFolio worth $21,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of APPF. Assenagon Asset Management S.A. grew its holdings in AppFolio by 103.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker's stock worth $6,043,000 after acquiring an additional 17,706 shares during the period. Vanguard Group Inc. grew its holdings in AppFolio by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker's stock worth $365,575,000 after acquiring an additional 46,827 shares during the period. Lord Abbett & CO. LLC acquired a new stake in AppFolio during the third quarter worth about $33,062,000. Jump Financial LLC acquired a new stake in AppFolio during the third quarter worth about $1,005,000. Finally, Northern Trust Corp grew its holdings in AppFolio by 1.1% during the third quarter. Northern Trust Corp now owns 202,348 shares of the software maker's stock worth $36,955,000 after acquiring an additional 2,224 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by corporate insiders.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $0.71 during trading on Tuesday, reaching $232.49. The stock had a trading volume of 185,356 shares, compared to its average volume of 320,780. The business has a fifty day moving average price of $232.49 and a 200-day moving average price of $201.74. The stock has a market cap of $8.34 billion, a PE ratio of 7,683.23 and a beta of 0.80. AppFolio, Inc. has a 1-year low of $123.36 and a 1-year high of $253.42.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.29. The firm had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. Sell-side analysts expect that AppFolio, Inc. will post 2.66 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on APPF shares. Stephens reissued an "overweight" rating and issued a $241.00 price objective on shares of AppFolio in a report on Friday, January 26th. KeyCorp raised their price objective on AppFolio from $254.00 to $264.00 and gave the company an "overweight" rating in a report on Monday, March 18th. StockNews.com lowered AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, December 21st. BTIG Research started coverage on AppFolio in a report on Friday, January 19th. They issued a "buy" rating and a $215.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on AppFolio from $228.00 to $237.00 and gave the company an "overweight" rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.40.

AppFolio 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.