KCM Investment Advisors LLC Makes New $4.58 Million Investment in AppFolio, Inc. $APPF

KCM Investment Advisors LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, Holdings Channel.com reports. The firm bought 19,686 shares of the software maker’s stock, valued at approximately $4,580,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Hantz Financial Services Inc. increased its position in AppFolio by 373.3% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after buying an additional 112 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares during the last quarter. Advisory Services Network LLC acquired a new position in AppFolio during the third quarter worth $55,000. Finally, Employees Retirement System of Texas acquired a new position in AppFolio during the third quarter worth $58,000. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $161.21 on Friday. The company has a market cap of $5.70 billion, a P/E ratio of 38.38 and a beta of 0.80. The stock’s 50-day moving average is $160.95 and its 200-day moving average is $188.11. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04.

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

Insider Activity

In other news, CEO William Shane Trigg sold 3,584 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at approximately $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total transaction of $312,761.36. Following the completion of the sale, the insider owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

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

AppFolio 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.