AppFolio, Inc. $APPF Holdings Raised by Long Walk Management LP

Long Walk Management LP grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,500 shares of the software maker’s stock after acquiring an additional 12,175 shares during the quarter. AppFolio comprises approximately 16.1% of Long Walk Management LP’s investment portfolio, making the stock its 2nd largest holding. Long Walk Management LP owned about 0.80% of AppFolio worth $79,528,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of APPF. Wealth Enhancement Advisory Services LLC acquired a new stake in AppFolio during the 3rd quarter valued at approximately $8,275,000. Highland Capital Management LLC acquired a new stake in shares of AppFolio in the third quarter worth $1,435,000. Mission Wealth Management LP raised its holdings in shares of AppFolio by 16.7% during the third quarter. Mission Wealth Management LP now owns 49,201 shares of the software maker’s stock worth $13,563,000 after purchasing an additional 7,042 shares during the last quarter. Quantum Portfolio Management LLC raised its holdings in shares of AppFolio by 134.6% during the third quarter. Quantum Portfolio Management LLC now owns 10,002 shares of the software maker’s stock worth $2,757,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in AppFolio by 40.1% during the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after purchasing an additional 333,861 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

AppFolio stock opened at $178.41 on Tuesday. The stock has a market capitalization of $6.42 billion, a PE ratio of 45.98 and a beta of 0.75. The business has a 50 day simple moving average of $216.38 and a 200-day simple moving average of $243.65. AppFolio, Inc. has a 12 month low of $173.10 and a 12 month high of $326.04.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. The firm had revenue of $248.19 million for the quarter, compared to analyst estimates of $246.56 million. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The business’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on APPF. Keefe, Bruyette & Woods cut their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. JPMorgan Chase & Co. decreased their price target on AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Piper Sandler cut their target price on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.83.

Insider Buying and Selling at AppFolio

In related news, CFO Timothy Mathias Eaton sold 517 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at approximately $2,307,147.36. This trade represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.68% of the stock is currently owned by company 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.