Sherbrooke Park Advisers LLC Increases Stake in AppFolio, Inc. (NASDAQ:APPF)

Sherbrooke Park Advisers LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 119.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,812 shares of the software maker's stock after acquiring an additional 1,530 shares during the period. Sherbrooke Park Advisers LLC's holdings in AppFolio were worth $694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APPF. FMR LLC boosted its holdings in AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of AppFolio in the 4th quarter valued at about $103,503,000. Norges Bank acquired a new position in shares of AppFolio in the 4th quarter valued at about $68,037,000. AQR Capital Management LLC boosted its stake in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after buying an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in AppFolio by 227.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock worth $57,706,000 after acquiring an additional 162,540 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Activity

In related news, CEO William Shane Trigg sold 5,900 shares of the firm's 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the firm's 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 transaction, the chief financial officer now owns 7,176 shares of the company's stock, valued at $1,586,828.88. This trade represents a 12.84% 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.

Analyst Ratings Changes

A number of research analysts have issued reports on APPF shares. DA Davidson raised AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods cut their price objective 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. Stephens reaffirmed an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Finally, William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $274.43.

AppFolio Stock Up 1.9%

Shares of AppFolio stock traded up $3.93 during mid-day trading on Thursday, reaching $210.12. 70,299 shares of the stock traded hands, compared to its average volume of 270,737. The business has a 50-day moving average of $217.03 and a 200 day moving average of $231.22. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The stock has a market capitalization of $7.57 billion, a PE ratio of 37.88 and a beta of 0.99.

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 analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same period last year, the business earned $1.05 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal 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.