AppFolio, Inc. $APPF Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 1,913.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,790 shares of the software maker’s stock after purchasing an additional 68,224 shares during the period. Pacer Advisors Inc. owned about 0.20% of AppFolio worth $11,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APPF. Royal Bank of Canada raised its stake in AppFolio by 22.6% in the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after buying an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after acquiring an additional 73 shares in the last quarter. Millennium Management LLC increased its holdings in shares of AppFolio by 237.7% in the 1st quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after acquiring an additional 12,709 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of AppFolio by 164.8% in the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after acquiring an additional 407 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of AppFolio by 322.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after acquiring an additional 50,970 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APPF shares. UBS Group set a $210.00 price target on AppFolio in a report on Friday, April 24th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Benchmark upped their target price on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wall Street Zen lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Zacks Research raised AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $243.50.

AppFolio Stock Performance

Shares of APPF opened at $199.53 on Wednesday. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $323.33. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 45.55 and a beta of 0.78. The firm has a 50-day simple moving average of $167.65 and a 200-day simple moving average of $171.45.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.02. The firm had revenue of $281.12 million for the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. Equities research analysts forecast that AppFolio, Inc. will post 5.16 EPS for the current year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $546,560.00. Following the transaction, the chief executive officer directly owned 76,547 shares in the company, valued at $11,673,417.50. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the transaction, the insider directly owned 42,400 shares in the company, valued at $7,645,568. This represents a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 77,957 shares of company stock worth $13,959,729 over the last quarter. Company insiders own 1.57% of the company’s stock.

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.