AppFolio, Inc. $APPF Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 141.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 20,277 shares of the software maker’s stock after buying an additional 11,862 shares during the period. Intech Investment Management LLC’s holdings in AppFolio were worth $5,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in AppFolio by 40.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after acquiring an additional 333,861 shares during the last quarter. Norges Bank acquired a new position in shares of AppFolio in the second quarter valued at approximately $34,425,000. Long Walk Management LP raised its stake in shares of AppFolio by 78.5% during the second quarter. Long Walk Management LP now owns 276,325 shares of the software maker’s stock worth $63,632,000 after purchasing an additional 121,525 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of AppFolio by 76.3% during the second quarter. Brown Advisory Inc. now owns 222,889 shares of the software maker’s stock worth $51,327,000 after purchasing an additional 96,470 shares during the last quarter. Finally, Watchtower Advisors LP acquired a new stake in shares of AppFolio during the second quarter worth $14,105,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the sale, the chief executive officer directly owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.68% of the company’s stock.

AppFolio Trading Up 0.6%

APPF stock opened at $177.76 on Friday. The company’s 50-day moving average price is $205.57 and its 200 day moving average price is $235.94. AppFolio, Inc. has a 52 week low of $161.13 and a 52 week high of $326.04. The company has a market cap of $6.40 billion, a P/E ratio of 45.81 and a beta of 0.75.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APPF shares. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. DA Davidson dropped their price target on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $270.83.

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.