AppFolio, Inc. $APPF Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,087 shares of the software maker’s stock after acquiring an additional 5,684 shares during the quarter. GW&K Investment Management LLC’s holdings in AppFolio were worth $34,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after acquiring an additional 56 shares during the period. Hantz Financial Services Inc. lifted its position in AppFolio by 373.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after acquiring an additional 112 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC acquired a new stake in AppFolio during the 3rd quarter worth approximately $55,000. Finally, Employees Retirement System of Texas acquired a new stake in AppFolio during the 3rd quarter worth approximately $58,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the completion of the transaction, the insider directly owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 3,584 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the transaction, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at approximately $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on APPF. Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Benchmark increased their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Finally, UBS Group set a $210.00 price objective on AppFolio in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.29.

AppFolio Trading Down 0.6%

Shares of APPF stock opened at $168.32 on Thursday. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 40.08 and a beta of 0.80. The stock has a 50 day simple moving average of $160.77 and a 200-day simple moving average of $188.78. AppFolio, Inc. has a 12-month low of $142.73 and a 12-month high of $326.04.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. The business had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. On average, equities analysts forecast that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

AppFolio Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.