Intech Investment Management LLC Acquires New Shares in AppFolio, Inc. (NASDAQ:APPF)

Intech Investment Management LLC acquired a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,629 shares of the software maker’s stock, valued at approximately $3,856,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC raised its position in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares during the last quarter. Geode Capital Management LLC raised its position in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after purchasing an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. raised its position in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after purchasing an additional 32,181 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after acquiring an additional 54,386 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Performance

Shares of AppFolio stock opened at $216.99 on Thursday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a 50 day moving average price of $229.17 and a two-hundred day moving average price of $232.68. The stock has a market capitalization of $7.90 billion, a PE ratio of 39.10 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In related news, Director Alexander Wolf bought 9,678 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a report on Friday, January 10th. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.29.

AppFolio Company 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.