5,000 Shares in AppFolio, Inc. $APPF Acquired by Aristides Capital LLC

Aristides Capital LLC purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 5,000 shares of the software maker’s stock, valued at approximately $789,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after buying an additional 259,933 shares during the last quarter. Greenstone Partners & Co. LLC purchased a new position in AppFolio during the 4th quarter worth approximately $43,647,000. Millennium Management LLC grew its stake in AppFolio by 158.6% during the 4th quarter. Millennium Management LLC now owns 281,495 shares of the software maker’s stock worth $65,490,000 after buying an additional 172,627 shares during the last quarter. Caledonia Private Investments Pty Ltd increased its position in AppFolio by 45.9% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 332,635 shares of the software maker’s stock worth $77,388,000 after buying an additional 104,609 shares during the period. Finally, Vanguard Group Inc. increased its position in AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock worth $595,691,000 after buying an additional 101,466 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $163.95 on Friday. AppFolio, Inc. has a one year low of $142.56 and a one year high of $326.04. The firm has a market capitalization of $5.80 billion, a P/E ratio of 39.04 and a beta of 0.79. The company’s fifty day moving average is $164.49 and its two-hundred day moving average is $173.97.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The business had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research reports. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Benchmark boosted their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Guggenheim initiated coverage on AppFolio in a research note on Wednesday. They set a “buy” rating and a $232.00 price target for the company. UBS Group set a $210.00 price objective on shares of AppFolio in a research note on Friday, April 24th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average target price of $249.75.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the completion of the transaction, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Evan Pickering sold 660 shares of AppFolio stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00. Following the transaction, the general counsel owned 6,555 shares of the company’s stock, valued at approximately $1,017,663.75. The trade was a 9.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 30,657 shares of company stock worth $5,310,740. Insiders own 1.57% of the company’s stock.

AppFolio Company 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.