Proficio Capital Partners LLC Takes $7.06 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Proficio Capital Partners LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 28,620 shares of the software maker’s stock, valued at approximately $7,061,000.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp lifted 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 buying an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC lifted 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 valued at $108,116,000 after buying an additional 207,204 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $97,252,000 after buying an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. lifted 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 valued at $82,788,000 after buying an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. lifted 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 valued at $51,800,000 after buying an additional 54,386 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

AppFolio Price Performance

NASDAQ:APPF opened at $216.74 on Monday. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The stock’s 50 day simple moving average is $231.33 and its two-hundred day simple moving average is $233.04. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 39.05 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released 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%. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Transactions at AppFolio

In related news, Director Alexander Wolf bought 9,678 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the acquisition, the director now owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at approximately $18,212,440.48. This trade represents 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.

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.