Vanguard Group Inc. Acquires 76,934 Shares of AppFolio, Inc. (NASDAQ:APPF)

Vanguard Group Inc. grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,078,661 shares of the software maker’s stock after acquiring an additional 76,934 shares during the period. Vanguard Group Inc. owned about 5.80% of AppFolio worth $360,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Group AG grew its holdings in AppFolio by 2.7% during the third quarter. UBS Group AG now owns 12,232 shares of the software maker’s stock valued at $2,234,000 after purchasing an additional 318 shares during the period. Envestnet Asset Management Inc. raised its stake in AppFolio by 66.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 28,890 shares of the software maker’s stock worth $5,276,000 after acquiring an additional 11,523 shares during the period. Invesco Ltd. raised its stake in AppFolio by 13.5% during the 3rd quarter. Invesco Ltd. now owns 68,638 shares of the software maker’s stock worth $12,535,000 after acquiring an additional 8,151 shares during the period. Hsbc Holdings PLC purchased a new position in AppFolio during the third quarter valued at approximately $395,000. Finally, Northern Trust Corp boosted its position in shares of AppFolio by 1.1% in the third 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler assumed 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. Keefe, Bruyette & Woods increased their target price on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Finally, KeyCorp increased their price objective on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.71.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total transaction of $766,700.10. Following the sale, the insider now directly owns 31,643 shares in the company, valued at $7,569,638.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Maurice J. Duca sold 2,600 shares of AppFolio stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $229.65, for a total transaction of $597,090.00. Following the completion of the transaction, the insider now directly owns 52,400 shares of the company’s stock, valued at approximately $12,033,660. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $239.22, for a total transaction of $766,700.10. Following the transaction, the insider now owns 31,643 shares in the company, valued at $7,569,638.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,891 shares of company stock worth $25,950,607. Corporate insiders own 9.15% of the company’s stock.

AppFolio Price Performance

Shares of APPF opened at $244.57 on Friday. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 118.15 and a beta of 0.80. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $256.73. The business’s 50 day simple moving average is $235.25 and its 200-day simple moving average is $219.51.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) 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 company had revenue of $187.43 million for the quarter, compared to the consensus estimate of $173.66 million. On average, sell-side analysts expect that AppFolio, Inc. will post 2.85 earnings per share for the current year.

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.