Pinebridge Investments L.P. Acquires 2,415 Shares of AppFolio, Inc. (NASDAQ:APPF)

Pinebridge Investments L.P. increased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,072 shares of the software maker's stock after acquiring an additional 2,415 shares during the quarter. Pinebridge Investments L.P.'s holdings in AppFolio were worth $1,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APPF. UMB Bank n.a. lifted its holdings in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock worth $41,000 after purchasing an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of AppFolio during the fourth quarter valued at about $50,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after buying an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after acquiring an additional 208 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after acquiring an additional 93 shares during the period. 85.19% of the stock is currently owned by institutional investors.

Insider Activity at AppFolio

In other AppFolio news, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson lowered their target price on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods reduced their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of "Hold" and a consensus price target of $274.43.

AppFolio Stock Performance

APPF traded up $5.36 on Friday, hitting $211.99. 192,325 shares of the company were exchanged, compared to its average volume of 270,146. The firm has a fifty day simple moving average of $217.27 and a two-hundred day simple moving average of $230.30. The stock has a market capitalization of $7.72 billion, a PE ratio of 38.20 and a beta of 0.86. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month 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 (EPS) for the quarter, missing the consensus estimate 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 firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. On average, equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

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.