Nellore Capital Management LLC Boosts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Nellore Capital Management LLC increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 18.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 371,934 shares of the software maker’s stock after purchasing an additional 58,315 shares during the quarter. AppFolio makes up 12.0% of Nellore Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Nellore Capital Management LLC owned approximately 1.02% of AppFolio worth $91,764,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC acquired a new position in AppFolio in the 4th quarter valued at approximately $28,000. UMB Bank n.a. boosted its stake in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in AppFolio in the 4th quarter valued at $50,000. Aster Capital Management DIFC Ltd raised its stake in shares of AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock valued at $51,000 after buying an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock valued at $55,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Down 1.8%

Shares of NASDAQ APPF opened at $216.70 on Wednesday. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company’s fifty day moving average is $217.17 and its 200-day moving average is $231.31. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 39.05 and a beta of 0.99.

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). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same quarter last year, the company earned $1.05 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APPF. Piper Sandler reiterated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. Stephens reissued an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. Keefe, Bruyette & Woods reduced 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. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson dropped their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, AppFolio currently has a consensus rating of “Hold” and an average price target of $274.43.

Insider Activity

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

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.