Tower Research Capital LLC TRC Has $601,000 Holdings in AppFolio, Inc. (NASDAQ:APPF)

Tower Research Capital LLC TRC lifted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 404.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,435 shares of the software maker's stock after buying an additional 1,952 shares during the period. Tower Research Capital LLC TRC's holdings in AppFolio were worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC increased its holdings in AppFolio by 20.5% during the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker's stock valued at $2,327,000 after purchasing an additional 1,681 shares in the last quarter. Franklin Resources Inc. grew its holdings in AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock worth $51,800,000 after acquiring an additional 54,386 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of AppFolio by 7.9% in the 3rd quarter. Retirement Systems of Alabama now owns 27,950 shares of the software maker's stock valued at $6,579,000 after buying an additional 2,047 shares during the period. Lord Abbett & CO. LLC raised its holdings in AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after purchasing an additional 207,204 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in AppFolio by 16.1% in the third quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker's stock valued at $41,861,000 after acquiring an additional 24,697 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

AppFolio stock traded up $5.36 during midday trading on Friday, reaching $211.99. 192,325 shares of the company's stock were exchanged, compared to its average volume of 270,146. The stock's 50-day simple moving average is $217.27 and its 200 day simple moving average is $230.30. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 38.20 and a beta of 0.86. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56.

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). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. AppFolio's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the topic of a number of analyst reports. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. DA Davidson cut their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of "Hold" and an average price target of $274.43.

Insiders Place Their Bets

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

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.