AppFolio, Inc. (NASDAQ:APPF) Stake Boosted by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 54.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,950 shares of the software maker’s stock after acquiring an additional 684 shares during the period. Silvercrest Asset Management Group LLC’s holdings in AppFolio were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of APPF. Colonial Trust Co SC purchased a new position in AppFolio in the 4th quarter worth about $28,000. UMB Bank n.a. increased its stake in AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after purchasing an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in AppFolio in the 4th quarter worth about $50,000. Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after purchasing an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in AppFolio by 1,485.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock worth $55,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity

In related news, CEO William Shane Trigg sold 5,900 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at approximately $14,938,308.15. The trade was a 7.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares of the company’s stock, valued at approximately $1,586,828.88. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $213.47 on Wednesday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 38.46 and a beta of 0.99. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a 50-day simple moving average of $217.24 and a 200-day simple moving average of $231.39.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. As a group, equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered their target price on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Finally, DA Davidson raised AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppFolio presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.43.

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.