Capital Impact Advisors LLC Has $29.85 Million Holdings in AppFolio, Inc. $APPF

Capital Impact Advisors LLC raised its position in AppFolio, Inc. (NASDAQ:APPF) by 262.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 128,314 shares of the software maker’s stock after purchasing an additional 92,936 shares during the quarter. AppFolio accounts for 2.3% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Capital Impact Advisors LLC’s holdings in AppFolio were worth $29,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of AppFolio during the third quarter worth approximately $55,000. Employees Retirement System of Texas acquired a new position in shares of AppFolio during the third quarter worth approximately $58,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of AppFolio during the third quarter worth approximately $69,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppFolio

In related news, General Counsel Evan Pickering sold 660 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $155.25, for a total value of $102,465.00. Following the transaction, the general counsel directly owned 6,555 shares in the company, valued at $1,017,663.75. This represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total transaction of $312,761.36. Following the completion of the transaction, the insider owned 21,545 shares in the company, valued at $3,406,695.40. This represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 8,957 shares of company stock valued at $1,399,501. 1.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. UBS Group set a $210.00 target price on shares of AppFolio in a research report on Friday, April 24th. Piper Sandler reduced their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Benchmark upped their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings lowered shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.29.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $148.59 on Thursday. The company’s 50 day simple moving average is $160.77 and its 200 day simple moving average is $186.28. AppFolio, Inc. has a fifty-two week low of $142.73 and a fifty-two week high of $326.04. The firm has a market capitalization of $5.25 billion, a P/E ratio of 35.38 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The business had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. During the same period in the prior year, the business posted $1.21 earnings per share. AppFolio’s revenue was up 20.7% compared to the same quarter last year. Sell-side analysts expect that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

AppFolio Company 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.