AppFolio, Inc. (NASDAQ:APPF) Stake Boosted by Nellore Capital Management LLC

Nellore Capital Management LLC raised its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 371,934 shares of the software maker's stock after buying an additional 58,315 shares during the period. AppFolio comprises 12.0% of Nellore Capital Management LLC's portfolio, making the stock its 3rd biggest position. Nellore Capital Management LLC owned about 1.02% of AppFolio worth $91,764,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in AppFolio by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 28,561 shares of the software maker's stock valued at $7,045,000 after acquiring an additional 4,263 shares during the last quarter. Janus Henderson Group PLC boosted its stake in AppFolio by 710.3% in the fourth quarter. Janus Henderson Group PLC now owns 75,791 shares of the software maker's stock valued at $18,699,000 after acquiring an additional 66,438 shares during the last quarter. Gotham Asset Management LLC boosted its stake in AppFolio by 27.7% in the fourth quarter. Gotham Asset Management LLC now owns 3,803 shares of the software maker's stock valued at $938,000 after acquiring an additional 824 shares during the last quarter. Focus Partners Wealth boosted its stake in AppFolio by 54.9% in the fourth quarter. Focus Partners Wealth now owns 3,599 shares of the software maker's stock valued at $888,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in AppFolio by 6.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 22,798 shares of the software maker's stock valued at $5,625,000 after acquiring an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Stock Performance

NASDAQ:APPF traded down $1.59 during midday trading on Monday, reaching $217.32. 83,244 shares of the stock traded hands, compared to its average volume of 270,957. The company has a fifty day moving average of $217.02 and a 200 day moving average of $231.47. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a market capitalization of $7.83 billion, a P/E ratio of 39.16 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. On average, analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stephens reiterated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. Keefe, Bruyette & Woods decreased their target price 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. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.