AppFolio, Inc. $APPF Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 141.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,277 shares of the software maker’s stock after buying an additional 11,862 shares during the period. Intech Investment Management LLC owned approximately 0.06% of AppFolio worth $5,590,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. US Bancorp DE raised its stake in shares of AppFolio by 10.6% in the third quarter. US Bancorp DE now owns 2,236 shares of the software maker’s stock valued at $616,000 after acquiring an additional 214 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in AppFolio in the 3rd quarter valued at about $326,000. OneDigital Investment Advisors LLC purchased a new position in shares of AppFolio in the 3rd quarter valued at about $205,000. Citigroup Inc. boosted its stake in shares of AppFolio by 140.3% in the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock valued at $4,312,000 after buying an additional 9,132 shares during the period. Finally, Advisors Capital Management LLC grew its position in shares of AppFolio by 1.8% during the third quarter. Advisors Capital Management LLC now owns 19,551 shares of the software maker’s stock worth $5,389,000 after buying an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares of the company’s stock, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several analyst reports. Weiss Ratings cut shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. DA Davidson dropped their price objective on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Piper Sandler decreased their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.83.

AppFolio Trading Up 0.6%

Shares of AppFolio stock opened at $177.76 on Friday. The company has a fifty day simple moving average of $205.57 and a 200-day simple moving average of $235.94. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 45.81 and a beta of 0.75. AppFolio, Inc. has a 12-month low of $161.13 and a 12-month high of $326.04.

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

AppFolio 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.