Intech Investment Management LLC Makes New $3.86 Million Investment in AppFolio, Inc. (NASDAQ:APPF)

Intech Investment Management LLC bought a new stake in AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,629 shares of the software maker’s stock, valued at approximately $3,856,000.

Several other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in shares of AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of AppFolio during the 4th quarter valued at $50,000. EverSource Wealth Advisors LLC raised its stake in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock valued at $55,000 after purchasing an additional 208 shares during the period. Jones Financial Companies Lllp raised its stake in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of AppFolio by 126.5% during the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after purchasing an additional 148 shares during the period. 85.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

AppFolio Stock Up 2.0 %

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 business has a 50-day simple moving average of $229.17 and a 200 day simple moving average of $232.68. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 39.10 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data 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 return on equity of 26.21% and a net margin of 25.69%. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 838 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company’s stock.

AppFolio 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.