Mercer Global Advisors Inc. ADV Boosts Holdings in AppFolio, Inc. (NASDAQ:APPF)

Mercer Global Advisors Inc. ADV grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 151.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,238 shares of the software maker’s stock after acquiring an additional 1,349 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in AppFolio were worth $552,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FMR LLC raised its stake in 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. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of AppFolio in the 4th quarter worth $103,503,000. Norges Bank acquired a new position in AppFolio in the fourth quarter valued at $68,037,000. AQR Capital Management LLC grew its position in 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 period. Finally, Arrowstreet Capital Limited Partnership grew its position in AppFolio by 227.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock valued at $57,706,000 after acquiring an additional 162,540 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Up 3.0%

Shares of NASDAQ:APPF opened at $220.78 on Tuesday. The company has a 50 day moving average of $217.24 and a two-hundred day moving average of $231.42. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 39.78 and a beta of 0.99.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) 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 firm had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. During the same period last year, the firm earned $1.05 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. DA Davidson reduced their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Stephens restated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed 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 objective on shares of AppFolio in a research report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced 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 assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $274.43.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction dated 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 completion of the purchase, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. The trade was a -150.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company’s stock.

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.