Pacer Advisors Inc. Increases Stock Position in AppFolio, Inc. $APPF

Pacer Advisors Inc. grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 1,913.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 71,790 shares of the software maker’s stock after buying an additional 68,224 shares during the period. Pacer Advisors Inc.’s holdings in AppFolio were worth $11,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Woodline Partners LP lifted its holdings in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after buying an additional 50 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 56 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in AppFolio by 4.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after acquiring an additional 58 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in AppFolio by 1.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 5,162 shares of the software maker’s stock worth $1,201,000 after acquiring an additional 64 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APPF. KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Piper Sandler cut their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Guggenheim began coverage on shares of AppFolio in a report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price objective on the stock. Finally, Benchmark upped their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $243.50.

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 3,584 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were 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 in the company, valued at $11,673,417.50. The trade was a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the sale, the insider directly owned 42,400 shares in the company, valued at approximately $7,645,568. The trade was a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,957 shares of company stock valued at $13,959,729 in the last ninety days. Corporate insiders own 1.57% of the company’s stock.

AppFolio Stock Performance

Shares of APPF stock opened at $199.53 on Wednesday. The stock has a fifty day moving average price of $167.65 and a 200 day moving average price of $171.45. The stock has a market cap of $7.07 billion, a PE ratio of 45.55 and a beta of 0.78. AppFolio, Inc. has a 1 year low of $142.56 and a 1 year high of $323.33.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The company had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. AppFolio’s revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts predict that AppFolio, Inc. will post 5.16 earnings per share for the current year.

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.