AppFolio, Inc. $APPF Shares Purchased by Long Walk Management LP

Long Walk Management LP raised its position in AppFolio, Inc. (NASDAQ:APPF) by 4.4% during the third quarter, HoldingsChannel reports. The firm owned 288,500 shares of the software maker’s stock after purchasing an additional 12,175 shares during the period. AppFolio comprises 16.1% of Long Walk Management LP’s holdings, making the stock its 2nd biggest position. Long Walk Management LP’s holdings in AppFolio were worth $79,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $31,000. TD Private Client Wealth LLC boosted its position in AppFolio by 2,116.7% during the third quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock worth $37,000 after acquiring an additional 127 shares during the last quarter. First Horizon Corp purchased a new stake in AppFolio during the 3rd quarter valued at about $39,000. Hantz Financial Services Inc. lifted its stake in AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of AppFolio by 58.7% during the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock worth $46,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Up 1.4%

Shares of AppFolio stock opened at $178.41 on Tuesday. The firm has a market cap of $6.42 billion, a PE ratio of 45.98 and a beta of 0.75. AppFolio, Inc. has a 52 week low of $173.10 and a 52 week high of $326.04. The business’s fifty day simple moving average is $216.38 and its 200-day simple moving average is $243.65.

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

Wall Street Analysts Forecast Growth

APPF has been the subject of several recent research reports. Weiss Ratings cut AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Finally, Piper Sandler cut their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $270.83.

Insider Activity at AppFolio

In related news, CFO Timothy Mathias Eaton sold 517 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $228.34, for a total transaction of $118,051.78. Following the completion of the transaction, the chief financial officer owned 10,104 shares of the company’s stock, valued at approximately $2,307,147.36. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.68% of the company’s stock.

About AppFolio

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.