Sherbrooke Park Advisers LLC Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Sherbrooke Park Advisers LLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 119.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,812 shares of the software maker's stock after buying an additional 1,530 shares during the period. Sherbrooke Park Advisers LLC's holdings in AppFolio were worth $694,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC grew its position in shares of AppFolio by 54.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,950 shares of the software maker's stock valued at $481,000 after acquiring an additional 684 shares during the period. ProShare Advisors LLC grew its position in shares of AppFolio by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock valued at $278,000 after acquiring an additional 81 shares during the period. Man Group plc grew its position in shares of AppFolio by 38.2% during the 4th quarter. Man Group plc now owns 63,729 shares of the software maker's stock valued at $15,723,000 after acquiring an additional 17,614 shares during the period. Nomura Holdings Inc. bought a new position in AppFolio in the 4th quarter worth $755,000. Finally, Nellore Capital Management LLC boosted its holdings in AppFolio by 18.6% in the 4th quarter. Nellore Capital Management LLC now owns 371,934 shares of the software maker's stock worth $91,764,000 after buying an additional 58,315 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer now directly owns 7,176 shares of the company's stock, valued at $1,586,828.88. This represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

AppFolio Stock Performance

Shares of APPF traded down $1.13 during midday trading on Tuesday, hitting $213.47. 163,596 shares of the company traded hands, compared to its average volume of 271,587. The firm has a 50 day moving average of $217.11 and a 200-day moving average of $231.51. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 38.46 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last released 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). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period last year, the company earned $1.05 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

About AppFolio

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.