AppFolio, Inc. $APPF Shares Acquired by Brown Advisory Inc.

Brown Advisory Inc. boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 76.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,889 shares of the software maker’s stock after purchasing an additional 96,470 shares during the quarter. Brown Advisory Inc.’s holdings in AppFolio were worth $51,327,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APPF. Marshall Wace LLP lifted its stake in AppFolio by 2,568.6% in the second quarter. Marshall Wace LLP now owns 57,429 shares of the software maker’s stock valued at $13,225,000 after buying an additional 55,277 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of AppFolio by 15.7% in the second quarter. Baird Financial Group Inc. now owns 2,530 shares of the software maker’s stock valued at $583,000 after purchasing an additional 343 shares during the period. M&T Bank Corp boosted its position in shares of AppFolio by 5.7% during the second quarter. M&T Bank Corp now owns 5,842 shares of the software maker’s stock worth $1,345,000 after buying an additional 313 shares during the period. Watchtower Advisors LP bought a new position in AppFolio in the 2nd quarter worth approximately $14,105,000. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in AppFolio in the 2nd quarter valued at approximately $485,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Janet Kerr sold 2,500 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $285.04, for a total value of $712,600.00. Following the transaction, the director owned 11,995 shares of the company’s stock, valued at approximately $3,419,054.80. This represents a 17.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Mathias Eaton sold 517 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the sale, the chief financial officer owned 10,104 shares of the company’s stock, valued at $2,307,147.36. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 18,245 shares of company stock valued at $4,754,059. Corporate insiders own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APPF. KeyCorp reduced their price target on AppFolio from $285.00 to $270.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Weiss Ratings upgraded shares of AppFolio from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. DA Davidson restated a “buy” rating and set a $325.00 price target on shares of AppFolio in a research report on Wednesday, November 19th. Finally, Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target for the company in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $310.20.

AppFolio Stock Down 0.1%

NASDAQ:APPF opened at $235.41 on Friday. The business’s 50-day moving average price is $240.56 and its 200 day moving average price is $249.03. AppFolio, Inc. has a 52-week low of $190.24 and a 52-week high of $326.04. The firm has a market cap of $8.46 billion, a P/E ratio of 42.26 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). The business had revenue of $249.35 million during the quarter, compared to analyst estimates of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 25.97%. AppFolio’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. Sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

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.