AppFolio, Inc. (NASDAQ:APPF) Position Boosted by Long Walk Management LP

Long Walk Management LP lifted its stake in AppFolio, Inc. (NASDAQ:APPF) by 29.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,500 shares of the software maker’s stock after purchasing an additional 14,750 shares during the quarter. AppFolio accounts for 5.9% of Long Walk Management LP’s portfolio, making the stock its 10th largest position. Long Walk Management LP owned about 0.18% of AppFolio worth $16,160,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in APPF. State Street Corp grew its stake in AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares in the last quarter. Geode Capital Management LLC increased its holdings in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after buying an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. raised its position in AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring an additional 54,386 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Trading Up 4.9 %

Shares of AppFolio stock opened at $216.74 on Friday. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 39.05 and a beta of 0.89. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The company’s fifty day simple moving average is $231.33 and its 200-day simple moving average is $233.01.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APPF shares. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. Finally, KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $276.29.

Insider Buying and Selling at AppFolio

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

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.