Ieq Capital LLC Purchases 34,184 Shares of AppFolio, Inc. (NASDAQ:APPF)

Ieq Capital LLC raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 905.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,960 shares of the software maker’s stock after acquiring an additional 34,184 shares during the period. Ieq Capital LLC’s holdings in AppFolio were worth $9,365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APPF. Lord Abbett & CO. LLC grew its stake in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in AppFolio in the 4th quarter worth about $15,483,000. FMR LLC increased its holdings in AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after buying an additional 55,348 shares in the last quarter. Franklin Resources Inc. increased its holdings in AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after buying an additional 54,386 shares in the last quarter. Finally, State Street Corp increased its holdings in AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after buying an additional 49,238 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 2,577 shares of AppFolio stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the transaction, the insider now directly owns 2,875 shares of the company’s stock, valued at $720,906.25. The trade was a 47.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. Insiders have sold a total of 12,321 shares of company stock valued at $3,034,077 in the last ninety days. Corporate insiders own 5.24% of the company’s stock.

AppFolio Stock Up 0.6 %

AppFolio stock opened at $216.23 on Friday. The business has a 50-day simple moving average of $243.31 and a two-hundred day simple moving average of $233.45. The company has a market cap of $7.87 billion, a P/E ratio of 38.96 and a beta of 0.88. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (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 anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About AppFolio

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.