62,756 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Deepwater Asset Management LLC

Deepwater Asset Management LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 62,756 shares of the software maker’s stock, valued at approximately $15,483,000. AppFolio makes up approximately 5.1% of Deepwater Asset Management LLC’s holdings, making the stock its 10th largest holding.

Several other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. grew its position in AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. UMB Bank n.a. grew its holdings in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the period. True Wealth Design LLC purchased a new stake in AppFolio during the 3rd quarter worth $79,000. Finally, Advisors Asset Management Inc. lifted its holdings in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In other AppFolio news, Director Scanlan Agnes Bundy sold 500 shares of AppFolio stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total value of $127,710.00. Following the completion of the transaction, the director now directly owns 5,416 shares in the company, valued at $1,383,354.72. The trade was a 8.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now owns 28,266 shares in the company, valued at $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,606 shares of company stock valued at $5,958,832 in the last quarter. Insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

APPF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler restated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a report on Friday. Stephens reiterated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Finally, William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $276.29.

AppFolio Trading Down 7.8 %

Shares of NASDAQ APPF opened at $233.91 on Monday. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 65.16 and a beta of 0.87. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The business has a 50 day simple moving average of $253.82 and a 200-day simple moving average of $235.40.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%. As a group, equities analysts predict that AppFolio, Inc. will post 3.2 earnings per share for the current year.

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.