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

Proficio Capital Partners LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,620 shares of the software maker’s stock, valued at approximately $7,061,000. Proficio Capital Partners LLC owned 0.08% of AppFolio as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in APPF. Crossmark Global Holdings Inc. boosted its stake in shares of AppFolio by 33.7% during the third quarter. Crossmark Global Holdings Inc. now owns 1,770 shares of the software maker’s stock valued at $416,000 after purchasing an additional 446 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of AppFolio by 5.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 8,475 shares of the software maker’s stock valued at $1,995,000 after purchasing an additional 412 shares during the period. KBC Group NV raised its holdings in shares of AppFolio by 22.1% during the third quarter. KBC Group NV now owns 618 shares of the software maker’s stock valued at $145,000 after acquiring an additional 112 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of AppFolio by 3.0% during the third quarter. Empowered Funds LLC now owns 6,927 shares of the software maker’s stock valued at $1,631,000 after acquiring an additional 200 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of AppFolio by 19.0% during the third quarter. Natixis Advisors LLC now owns 22,094 shares of the software maker’s stock valued at $5,201,000 after acquiring an additional 3,533 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Up 4.9 %

APPF opened at $216.74 on Monday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The stock has a fifty day simple moving average of $231.33 and a two-hundred day simple moving average of $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 issued its quarterly earnings results 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, analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

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

AppFolio Company 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.