AppFolio, Inc. $APPF Shares Sold by Insight Holdings Group LLC

Insight Holdings Group LLC cut its holdings in AppFolio, Inc. (NASDAQ:APPF) by 70.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,550 shares of the software maker’s stock after selling 108,050 shares during the period. AppFolio makes up about 0.8% of Insight Holdings Group LLC’s holdings, making the stock its 13th largest position. Insight Holdings Group LLC’s holdings in AppFolio were worth $10,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Inspire Investing LLC raised its stake in AppFolio by 28.7% in the fourth quarter. Inspire Investing LLC now owns 1,400 shares of the software maker’s stock valued at $326,000 after buying an additional 312 shares in the last quarter. Gotham Asset Management LLC raised its stake in AppFolio by 61.8% in the fourth quarter. Gotham Asset Management LLC now owns 5,794 shares of the software maker’s stock valued at $1,348,000 after buying an additional 2,212 shares in the last quarter. Capital Impact Advisors LLC raised its stake in AppFolio by 262.7% in the fourth quarter. Capital Impact Advisors LLC now owns 128,314 shares of the software maker’s stock valued at $29,852,000 after buying an additional 92,936 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in AppFolio in the fourth quarter valued at $5,922,000. Finally, AQR Capital Management LLC grew its holdings in shares of AppFolio by 17.3% during the fourth quarter. AQR Capital Management LLC now owns 30,300 shares of the software maker’s stock worth $7,049,000 after purchasing an additional 4,471 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of APPF stock opened at $148.59 on Thursday. AppFolio, Inc. has a 1 year low of $142.73 and a 1 year high of $326.04. The stock’s 50-day moving average is $160.77 and its two-hundred day moving average is $186.28. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 35.38 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same quarter last year, the company posted $1.21 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. As a group, research analysts predict that AppFolio, Inc. will post 5.04 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Evan Pickering sold 660 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00. Following the transaction, the general counsel owned 6,555 shares of the company’s stock, valued at $1,017,663.75. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Mathias Eaton sold 2,585 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $160.07, for a total value of $413,780.95. Following the transaction, the chief financial officer directly owned 18,036 shares in the company, valued at approximately $2,887,022.52. This represents a 12.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,957 shares of company stock worth $1,399,501. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several research reports. UBS Group set a $210.00 price objective on AppFolio in a report on Friday, April 24th. Piper Sandler dropped their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Weiss Ratings lowered AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Benchmark raised their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.29.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.