Fmr LLC Raises Position in AppFolio, Inc. (NASDAQ:APPF)

Fmr LLC lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 881.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 597,485 shares of the software maker’s stock after acquiring an additional 536,591 shares during the quarter. Fmr LLC owned 1.64% of AppFolio worth $147,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APPF. JPMorgan Chase & Co. raised its position in AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after purchasing an additional 5,077 shares in the last quarter. South Dakota Investment Council grew its stake in shares of AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after purchasing an additional 1,700 shares in the last quarter. Bryce Point Capital LLC acquired a new position in shares of AppFolio during the fourth quarter worth $1,392,000. SYM FINANCIAL Corp purchased a new position in AppFolio in the fourth quarter valued at $292,000. Finally, Sei Investments Co. raised its position in shares of AppFolio by 9.4% during the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock worth $11,306,000 after acquiring an additional 3,935 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APPF has been the topic of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reiterated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. Finally, Piper Sandler restated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $276.29.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $224.20 on Monday. The company’s fifty day moving average is $218.26 and its two-hundred day moving average is $231.62. The firm has a market capitalization of $8.16 billion, a P/E ratio of 40.40 and a beta of 0.86. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.