Independent Advisor Alliance Acquires 53 Shares of AppFolio, Inc. (NASDAQ:APPF)

Independent Advisor Alliance lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,607 shares of the software maker’s stock after purchasing an additional 53 shares during the period. Independent Advisor Alliance’s holdings in AppFolio were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp boosted its position in shares of AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. boosted its position in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after purchasing an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after purchasing an additional 54,386 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. The trade was a -150.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.

AppFolio Trading Up 4.9 %

Shares of NASDAQ:APPF opened at $216.74 on Monday. The stock’s fifty day simple moving average is $231.33 and its two-hundred day simple moving average is $233.04. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The stock has a market cap of $7.89 billion, a PE ratio of 39.05 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.