Goldman Sachs Group Inc. Increases Holdings in AppFolio, Inc. (NASDAQ:APPF)

Goldman Sachs Group Inc. boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 148.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,257 shares of the software maker’s stock after purchasing an additional 72,371 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of AppFolio worth $21,007,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in AppFolio by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock worth $365,575,000 after purchasing an additional 46,827 shares during the period. Fred Alger Management LLC increased its stake in AppFolio by 12.2% in the 3rd quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after purchasing an additional 62,347 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after purchasing an additional 15,283 shares during the period. Norges Bank purchased a new position in AppFolio in the 4th quarter worth approximately $38,458,000. Finally, Northern Trust Corp increased its stake in AppFolio by 1.1% in the 3rd quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after purchasing an additional 2,224 shares during the period. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In related news, Director Alexander Wolf sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the sale, the director now owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Maurice J. Duca sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the sale, the insider now owns 55,000 shares of the company’s stock, valued at $12,716,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander Wolf sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The disclosure for this sale can be found here. Insiders sold 101,575 shares of company stock valued at $23,956,040 over the last 90 days. Corporate insiders own 9.15% of the company’s stock.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $238.62 on Wednesday. AppFolio, Inc. has a fifty-two week low of $162.32 and a fifty-two week high of $256.73. The company has a 50 day simple moving average of $233.35 and a two-hundred day simple moving average of $218.72. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 115.28 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. On average, analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APPF shares. Stephens reiterated an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price objective on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Piper Sandler began coverage on shares of AppFolio in a research note on Monday, June 10th. They set an “overweight” rating and a $295.00 target price on the stock. Finally, KeyCorp raised their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.71.

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.