Edgestream Partners L.P. Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Edgestream Partners L.P. bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,496 shares of the software maker’s stock, valued at approximately $4,070,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after buying an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AppFolio by 8.6% during the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. increased its position in shares of AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after purchasing an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

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

AppFolio Price Performance

AppFolio stock opened at $220.89 on Friday. The business has a 50 day simple moving average of $234.89 and a 200-day simple moving average of $233.61. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a market capitalization of $8.04 billion, a PE ratio of 39.80 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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 anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 700 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the sale, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. The trade was a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the 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 of the company’s stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,039 shares of company stock worth $1,153,454 over the last 90 days. Company insiders own 5.24% of the company’s stock.

AppFolio 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.