William Blair Investment Management LLC Buys 86,272 Shares of AppFolio, Inc. $APPF

by · The Cerbat Gem

William Blair Investment Management LLC boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF – Free Report) by 15.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 638,241 shares of the software maker’s stock after purchasing an additional 86,272 shares during the quarter. William Blair Investment Management LLC’s holdings in AppFolio were worth $148,487,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its position in AppFolio by 1.1% during the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after purchasing an additional 43 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in AppFolio by 3.1% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock valued at $418,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP boosted its position in AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after purchasing an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in AppFolio by 14.6% during the third quarter. Jones Financial Companies Lllp now owns 454 shares of the software maker’s stock valued at $126,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $164.92 on Friday. The company has a market cap of $5.83 billion, a PE ratio of 39.27 and a beta of 0.82. The business has a 50-day simple moving average of $160.36 and a two-hundred day simple moving average of $196.39. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. The business had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. On average, sell-side analysts predict that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. JPMorgan Chase & Co. dropped their price objective on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.29.

View Our Latest Stock Report on AppFolio

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the sale, the chief executive officer owned 76,547 shares of the company’s stock, valued at approximately $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.57% of the stock is currently owned by company insiders.

AppFolio Company Profile

(Free Report)

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.

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