Colonial Trust Co SC Buys New Holdings in AppFolio, Inc. (NASDAQ:APPF)

Colonial Trust Co SC purchased a new position in AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 114 shares of the software maker’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after buying an additional 91,174 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after acquiring an additional 197,700 shares during the last quarter. FMR LLC boosted its holdings in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after purchasing an additional 536,591 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock worth $141,350,000 after purchasing an additional 25,566 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio during the 4th quarter valued at about $103,503,000. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares of the company’s stock, valued at $692,977.06. The trade was a -150.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company’s 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. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by insiders.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $214.29 on Friday. The company has a 50 day simple moving average of $217.30 and a two-hundred day simple moving average of $231.08. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 38.61 and a beta of 0.99.

AppFolio (NASDAQ:APPF) last announced its quarterly 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). The firm had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APPF has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Stephens reiterated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. DA Davidson decreased their price objective on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, April 14th. 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. Finally, Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Hold” and an average target price of $274.43.

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.