Meeder Asset Management Inc. Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Meeder Asset Management Inc. purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 493 shares of the software maker’s stock, valued at approximately $85,000.

Several other large investors have also recently made changes to their positions in the business. MetLife Investment Management LLC raised its position in AppFolio by 56.4% in the 1st quarter. MetLife Investment Management LLC now owns 9,835 shares of the software maker’s stock worth $1,113,000 after purchasing an additional 3,545 shares during the period. Rhumbline Advisers grew its stake in shares of AppFolio by 2.8% during the first quarter. Rhumbline Advisers now owns 19,928 shares of the software maker’s stock valued at $2,256,000 after buying an additional 535 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of AppFolio by 2.3% in the first quarter. Blair William & Co. IL now owns 72,954 shares of the software maker’s stock worth $8,259,000 after buying an additional 1,664 shares during the period. Ergoteles LLC bought a new stake in shares of AppFolio in the 1st quarter valued at about $228,000. Finally, Federated Hermes Inc. bought a new stake in shares of AppFolio in the 1st quarter valued at about $39,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

AppFolio Trading Down 0.3 %

Shares of APPF opened at $232.49 on Wednesday. AppFolio, Inc. has a 1-year low of $123.36 and a 1-year high of $253.42. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7,752.25 and a beta of 0.80. The firm’s 50-day moving average price is $232.63 and its 200-day moving average price is $202.12.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. The firm had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. On average, research analysts forecast that AppFolio, Inc. will post 2.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on APPF. BTIG Research initiated coverage on AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, January 26th. KeyCorp raised their price target on shares of AppFolio from $254.00 to $264.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.40.

Insider Buying and Selling

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares of the company’s stock, valued at approximately $11,605,146.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold a total of 15,489 shares of company stock valued at $3,531,011 over the last ninety days. Company insiders own 9.15% of the company’s stock.

About AppFolio

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.