Balyasny Asset Management L.P. Decreases Position in AppFolio, Inc. (NASDAQ:APPF)

Balyasny Asset Management L.P. decreased its position in AppFolio, Inc. (NASDAQ:APPF) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,628 shares of the software maker’s stock after selling 732 shares during the period. Balyasny Asset Management L.P.’s holdings in AppFolio were worth $2,622,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Baker Avenue Asset Management LP raised its stake in shares of AppFolio by 4.5% in the fourth quarter. Baker Avenue Asset Management LP now owns 22,440 shares of the software maker’s stock valued at $5,536,000 after buying an additional 957 shares during the period. Algert Global LLC increased its holdings in AppFolio by 126.1% in the 4th quarter. Algert Global LLC now owns 54,209 shares of the software maker’s stock worth $13,374,000 after acquiring an additional 30,235 shares during the last quarter. AXA S.A. boosted its position in AppFolio by 40.5% during the fourth quarter. AXA S.A. now owns 52,666 shares of the software maker’s stock worth $12,994,000 after purchasing an additional 15,190 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of AppFolio by 151.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,238 shares of the software maker’s stock worth $552,000 after purchasing an additional 1,349 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of AppFolio in the fourth quarter worth about $6,945,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. DA Davidson dropped their price target on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. Stephens reiterated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. Finally, William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AppFolio currently has a consensus rating of “Hold” and an average price target of $274.43.

AppFolio Stock Performance

Shares of APPF stock opened at $214.29 on Monday. The company has a market capitalization of $7.72 billion, a PE ratio of 38.61 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 business’s fifty day moving average is $217.30 and its 200 day moving average is $231.36.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $217.70 million during the quarter, compared to analysts’ expectations of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. The trade was a -150.00% increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is owned by company insiders.

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.