TFJ Management LLC Acquires Shares of 22,273 AppFolio, Inc. (NASDAQ:APPF)

TFJ Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 22,273 shares of the software maker's stock, valued at approximately $5,495,000. AppFolio makes up 4.9% of TFJ Management LLC's portfolio, making the stock its 8th biggest position. TFJ Management LLC owned about 0.06% of AppFolio as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after buying an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in AppFolio in the 4th quarter valued at about $50,000. Aster Capital Management DIFC Ltd increased its holdings in shares of AppFolio by 10,300.0% during the 4th 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 during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after buying an additional 208 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APPF. Piper Sandler reissued a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. Stephens reiterated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. William Blair restated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson dropped their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $274.43.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 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 SEC, which can be accessed through this link. Also, Director Alexander Wolf bought 9,678 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by company insiders.

AppFolio Stock Down 17.1 %

APPF stock traded down $40.24 during midday trading on Friday, hitting $194.41. The company's stock had a trading volume of 1,066,109 shares, compared to its average volume of 268,716. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The firm has a 50-day simple moving average of $218.47 and a 200-day simple moving average of $231.10. The firm has a market capitalization of $7.08 billion, a P/E ratio of 34.99 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, sell-side analysts expect 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.