AppFolio, Inc. $APPF Stock Holdings Lessened by Brown Capital Management LLC

Brown Capital Management LLC reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 40.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 341,942 shares of the software maker’s stock after selling 236,803 shares during the quarter. AppFolio makes up 3.9% of Brown Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Brown Capital Management LLC owned 0.95% of AppFolio worth $94,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of APPF. Principal Financial Group Inc. raised its holdings in shares of AppFolio by 40.1% in the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after purchasing an additional 333,861 shares during the last quarter. William Blair Investment Management LLC increased its stake in AppFolio by 73.6% in the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after buying an additional 310,834 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of AppFolio by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 438,522 shares of the software maker’s stock worth $100,999,000 after buying an additional 1,458 shares in the last quarter. Long Walk Management LP boosted its stake in shares of AppFolio by 78.5% in the 2nd quarter. Long Walk Management LP now owns 276,325 shares of the software maker’s stock worth $63,632,000 after buying an additional 121,525 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of AppFolio by 76.3% in the 2nd quarter. Brown Advisory Inc. now owns 222,889 shares of the software maker’s stock worth $51,327,000 after buying an additional 96,470 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group set a $260.00 price target on AppFolio and gave the stock a “buy” rating in a report on Friday. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday. Keefe, Bruyette & Woods lowered their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday. DA Davidson reduced their price target on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday. Finally, Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.83.

AppFolio Stock Performance

Shares of AppFolio stock opened at $195.06 on Tuesday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 50.27 and a beta of 0.75. AppFolio, Inc. has a 52-week low of $186.45 and a 52-week high of $326.04. The stock’s 50-day simple moving average is $226.46 and its 200 day simple moving average is $249.18.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business had revenue of $248.19 million during the quarter, compared to analyst estimates of $246.56 million. During the same period in the previous year, the business earned $0.92 EPS. AppFolio’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,947 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $240.45, for a total value of $949,056.15. Following the sale, the chief executive officer owned 51,530 shares in the company, valued at approximately $12,390,388.50. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy Mathias Eaton sold 517 shares of the business’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 transaction, the chief financial officer owned 10,104 shares of the company’s stock, valued at approximately $2,307,147.36. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,745 shares of company stock worth $2,097,550. Corporate insiders own 4.68% of the company’s stock.

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.