3,327 Shares in AppFolio, Inc. $APPF Acquired by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,327 shares of the software maker’s stock, valued at approximately $525,000.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC acquired a new stake in shares of AppFolio in the third quarter valued at approximately $55,000. Employees Retirement System of Texas bought a new stake in shares of AppFolio during the third quarter valued at approximately $58,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of AppFolio during the third quarter valued at approximately $69,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APPF has been the subject of a number of recent analyst reports. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Benchmark increased their price target on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a 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, the company currently has an average rating of “Moderate Buy” and an average target price of $252.29.

AppFolio Price Performance

APPF opened at $160.35 on Wednesday. The business has a 50 day moving average price of $160.63 and a two-hundred day moving average price of $181.13. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.18 and a beta of 0.80. AppFolio, Inc. has a 1-year low of $142.56 and a 1-year high of $326.04.

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

Insider Buying and Selling at AppFolio

In other news, General Counsel Evan Pickering sold 660 shares of AppFolio stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $155.25, for a total value of $102,465.00. Following the transaction, the general counsel 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,957 shares of company stock valued at $1,399,501 in the last ninety days. 1.57% of the stock is owned by insiders.

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.