AppFolio, Inc. $APPF Shares Acquired by Vanguard Group Inc.

by · The Markets Daily

Vanguard Group Inc. lifted its position in AppFolio, Inc. (NASDAQ:APPF – Free Report) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,458,994 shares of the software maker’s stock after purchasing an additional 55,277 shares during the quarter. Vanguard Group Inc. owned approximately 6.86% of AppFolio worth $677,846,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in APPF. Root Financial Partners LLC acquired a new position in AppFolio during the third quarter worth approximately $31,000. TD Private Client Wealth LLC grew its position in shares of 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 acquired a new position in shares of AppFolio in the 3rd quarter valued at $39,000. Hantz Financial Services Inc. raised its position in AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in AppFolio by 2,200.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 184 shares of the software maker’s stock valued at $51,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Stock Down 5.2%

Shares of NASDAQ:APPF opened at $163.33 on Tuesday. The company has a market cap of $5.88 billion, a P/E ratio of 42.10 and a beta of 0.75. AppFolio, Inc. has a 52 week low of $162.20 and a 52 week high of $326.04. The company has a 50-day moving average price of $210.51 and a 200 day moving average price of $238.66.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APPF shares. Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. UBS Group set a $260.00 price target on AppFolio and gave the company a “buy” rating in a research report on Friday, January 30th. Piper Sandler reduced their price objective on AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.83.

Get Our Latest Analysis on AppFolio

Insider Transactions at AppFolio

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

About AppFolio

(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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