GW&K Investment Management LLC Raises Holdings in AppFolio, Inc. $APPF

GW&K Investment Management LLC boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,087 shares of the software maker’s stock after purchasing an additional 5,684 shares during the quarter. GW&K Investment Management LLC owned approximately 0.42% of AppFolio worth $34,686,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp increased its holdings in AppFolio by 1,643.8% during the 4th quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock worth $22,370,000 after purchasing an additional 90,639 shares during the period. Nordea Investment Management AB acquired a new position in shares of AppFolio during the 4th quarter worth about $8,795,000. Vanguard Group Inc. boosted its position in shares of AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after acquiring an additional 101,466 shares in the last quarter. Citigroup Inc. boosted its position in shares of AppFolio by 140.3% during the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock worth $4,312,000 after acquiring an additional 9,132 shares in the last quarter. Finally, Light Street Capital Management LLC acquired a new position in shares of AppFolio during the 3rd quarter worth about $5,513,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APPF. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Benchmark upped their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Piper Sandler lowered their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, UBS Group set a $210.00 price objective on AppFolio in a research report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $252.29.

AppFolio Stock Down 0.6%

Shares of NASDAQ APPF opened at $168.32 on Thursday. The stock has a market cap of $5.95 billion, a PE ratio of 40.08 and a beta of 0.80. AppFolio, Inc. has a 52-week low of $142.73 and a 52-week high of $326.04. The business has a 50-day moving average price of $160.77 and a 200 day moving average price of $188.78.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. The firm had revenue of $262.21 million during the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Sell-side analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at $11,673,417.50. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This trade represents a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.57% of the stock is owned by corporate insiders.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.