Alamar Capital Management LLC Buys Shares of 16,025 AppFolio, Inc. $APPF

Alamar Capital Management LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 1st quarter, HoldingsChannel reports. The firm purchased 16,025 shares of the software maker’s stock, valued at approximately $2,529,000. AppFolio accounts for about 1.5% of Alamar Capital Management LLC’s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares during the period. Advisory Services Network LLC bought a new position in AppFolio during the third quarter worth $55,000. Employees Retirement System of Texas bought a new position in AppFolio during the third quarter worth $58,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in AppFolio in the third quarter valued at $69,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

APPF stock opened at $162.21 on Thursday. The business has a 50-day simple moving average of $164.22 and a two-hundred day simple moving average of $174.44. The company has a market capitalization of $5.74 billion, a P/E ratio of 38.62 and a beta of 0.79. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. During the same period in the prior year, the business posted $1.21 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on APPF. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. 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. Guggenheim assumed coverage on AppFolio in a research note on Wednesday. They issued a “buy” rating on the stock. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.75.

Insiders Place Their Bets

In other AppFolio news, General Counsel Evan Pickering sold 660 shares of AppFolio stock in a transaction on Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the transaction, the general counsel directly owned 6,555 shares of the company’s stock, valued at $1,017,663.75. The trade was a 9.15% decrease in their position. The transaction was disclosed in a legal filing 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 on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the completion of the sale, the insider owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their position. 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. Insiders sold a total of 30,657 shares of company stock worth $5,310,740 in the last three months. 1.57% of the stock is owned by corporate insiders.

About AppFolio

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.