30,020 Shares in AppFolio, Inc. $APPF Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in AppFolio, Inc. (NASDAQ:APPF) in the 3rd quarter, HoldingsChannel reports. The fund acquired 30,020 shares of the software maker’s stock, valued at approximately $8,275,000.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in shares of AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock worth $248,000 after buying an additional 37 shares during the period. State of New Jersey Common Pension Fund D grew its position in AppFolio by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock valued at $2,082,000 after acquiring an additional 44 shares during the last quarter. Amalgamated Bank increased its stake in AppFolio by 0.4% in the third quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock worth $3,051,000 after purchasing an additional 46 shares during the period. Woodline Partners LP lifted its position in shares of AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after purchasing an additional 73 shares during the period. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Down 1.4%

APPF stock opened at $219.43 on Friday. The stock has a market capitalization of $7.88 billion, a PE ratio of 39.39 and a beta of 0.78. AppFolio, Inc. has a 52 week low of $190.24 and a 52 week high of $326.04. The firm has a 50 day moving average of $228.85 and a 200 day moving average of $250.70.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The company had revenue of $249.35 million for the quarter, compared to analyst estimates of $245.39 million. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity

In other news, General Counsel Evan Pickering sold 334 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $243.67, for a total transaction of $81,385.78. Following the sale, the general counsel owned 2,969 shares of the company’s stock, valued at $723,456.23. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Mathias Eaton sold 517 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at $2,307,147.36. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,745 shares of company stock valued at $2,097,550 in the last quarter. 4.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target on the stock in a research note on Friday, October 24th. DA Davidson reaffirmed a “buy” rating and set a $325.00 target price on shares of AppFolio in a research report on Wednesday, November 19th. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. UBS Group started coverage on AppFolio in a research note on Friday, December 12th. They set a “buy” rating and a $285.00 price objective for the company. Finally, Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

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.