Nellore Capital Management LLC Raises Stake in AppFolio, Inc. (NASDAQ:APPF)

Nellore Capital Management LLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 371,934 shares of the software maker's stock after purchasing an additional 58,315 shares during the quarter. AppFolio makes up about 12.0% of Nellore Capital Management LLC's holdings, making the stock its 3rd biggest holding. Nellore Capital Management LLC owned about 1.02% of AppFolio worth $91,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in AppFolio by 17.5% during the 4th quarter. Lazard Asset Management LLC now owns 28,561 shares of the software maker's stock valued at $7,045,000 after purchasing an additional 4,263 shares during the period. Janus Henderson Group PLC grew its position in shares of AppFolio by 710.3% in the 4th quarter. Janus Henderson Group PLC now owns 75,791 shares of the software maker's stock worth $18,699,000 after buying an additional 66,438 shares during the period. Gotham Asset Management LLC grew its position in shares of AppFolio by 27.7% in the 4th quarter. Gotham Asset Management LLC now owns 3,803 shares of the software maker's stock worth $938,000 after buying an additional 824 shares during the period. Focus Partners Wealth grew its position in shares of AppFolio by 54.9% in the 4th quarter. Focus Partners Wealth now owns 3,599 shares of the software maker's stock worth $888,000 after buying an additional 1,276 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in shares of AppFolio by 6.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 22,798 shares of the software maker's stock worth $5,625,000 after buying an additional 1,470 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.24% of the company's stock.

AppFolio Price Performance

AppFolio stock traded up $6.48 during mid-day trading on Friday, reaching $218.91. The stock had a trading volume of 263,350 shares, compared to its average volume of 271,298. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 39.44 and a beta of 0.99. The company has a 50-day moving average price of $217.02 and a two-hundred day moving average price of $231.21. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The firm 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 business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APPF. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reduced 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

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.