Swiss National Bank Grows Stake in AppFolio, Inc. (NASDAQ:APPF)

Swiss National Bank grew its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the software maker’s stock after purchasing an additional 1,500 shares during the period. Swiss National Bank’s holdings in AppFolio were worth $10,609,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in APPF. Tidal Investments LLC lifted its stake in AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock worth $335,000 after purchasing an additional 40 shares during the last quarter. Exchange Traded Concepts LLC increased its position 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 acquiring an additional 40 shares during the period. Independent Advisor Alliance increased its position in shares of AppFolio by 2.1% in the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock valued at $643,000 after acquiring an additional 53 shares during the period. Nisa Investment Advisors LLC increased its position 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 acquiring an additional 65 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after acquiring an additional 93 shares during the period. 85.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of analyst reports. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target 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 report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of AppFolio in a research report 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $276.29.

Insider Transactions at AppFolio

In other news, Director Alexander Wolf bought 9,678 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the purchase, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

Shares of APPF opened at $215.51 on Friday. The stock has a market cap of $7.85 billion, a PE ratio of 38.83 and a beta of 0.89. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm’s 50-day simple moving average is $228.41 and its two-hundred day simple moving average is $232.56.

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 return on equity of 26.21% and a net margin of 25.69%. Equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current 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.