Algert Global LLC Increases Stake in AppFolio, Inc. (NASDAQ:APPF)

Algert Global LLC grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 126.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,209 shares of the software maker’s stock after purchasing an additional 30,235 shares during the quarter. Algert Global LLC owned approximately 0.15% of AppFolio worth $13,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after acquiring an additional 40 shares during the last quarter. Independent Advisor Alliance lifted its holdings in AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock worth $643,000 after buying an additional 53 shares during the period. Treasurer of the State of North Carolina grew its position in shares of AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker’s stock worth $2,457,000 after buying an additional 60 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after acquiring an additional 65 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in AppFolio by 60.4% in the fourth 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. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Up 2.6 %

Shares of APPF opened at $212.06 on Friday. The company has a market capitalization of $7.64 billion, a P/E ratio of 38.21 and a beta of 0.99. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The firm has a 50 day moving average of $217.28 and a 200 day moving average of $230.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business had revenue of $217.70 million during the quarter, compared to analysts’ expectations of $220.95 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APPF. 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 research report on Friday, April 25th. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson decreased their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, AppFolio presently has an average rating of “Hold” and a consensus target price of $274.43.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio 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 owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander Wolf bought 9,678 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the acquisition, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 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.