Daiwa Securities Group Inc. Acquires 5,822 Shares of AppFolio, Inc. (NASDAQ:APPF)

Daiwa Securities Group Inc. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 485.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,022 shares of the software maker’s stock after buying an additional 5,822 shares during the period. Daiwa Securities Group Inc.’s holdings in AppFolio were worth $1,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of APPF. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AppFolio by 16.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the software maker’s stock valued at $1,339,000 after purchasing an additional 767 shares during the last quarter. Amundi boosted its holdings in shares of AppFolio by 2,640.2% in the 4th quarter. Amundi now owns 17,181 shares of the software maker’s stock valued at $4,357,000 after buying an additional 16,554 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of AppFolio in the 4th quarter worth approximately $4,070,000. Ashton Thomas Private Wealth LLC bought a new position in shares of AppFolio during the 4th quarter worth approximately $235,000. Finally, Raymond James Financial Inc. purchased a new stake in AppFolio during the fourth quarter valued at approximately $30,195,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of APPF stock opened at $216.74 on Friday. The business has a fifty day moving average of $232.05 and a 200 day moving average of $233.13. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 39.05 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.