ING Groep NV Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

ING Groep NV purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,900 shares of the software maker’s stock, valued at approximately $962,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after buying an additional 40 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock valued at $158,000 after buying an additional 40 shares in the last quarter. Blue Trust Inc. grew its stake in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after buying an additional 65 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of AppFolio by 16.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock valued at $171,000 after buying an additional 100 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew S. Mazza sold 700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,744 shares of company stock valued at $2,387,894 in the last quarter. Insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

Shares of APPF opened at $215.01 on Tuesday. The company has a market capitalization of $7.83 billion, a P/E ratio of 38.74 and a beta of 0.88. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock has a 50-day moving average price of $241.39 and a 200 day moving average price of $233.83.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

AppFolio Company Profile

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.