Congress Wealth Management LLC DE Invests $226,000 in AppFolio, Inc. (NASDAQ:APPF)

Congress Wealth Management LLC DE acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 916 shares of the software maker’s stock, valued at approximately $226,000.

A number of other hedge funds also recently bought and sold shares of APPF. Tidal Investments LLC increased its holdings in shares of AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after purchasing an additional 40 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after acquiring an additional 40 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of AppFolio by 2.1% during the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock worth $643,000 after acquiring an additional 53 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of AppFolio by 11.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after acquiring an additional 65 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Down 1.7 %

NASDAQ:APPF opened at $221.30 on Friday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock’s fifty day moving average is $225.38 and its two-hundred day moving average is $232.48. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 39.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Alexander Wolf bought 9,678 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 838 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. Stephens reiterated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One 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 data from MarketBeat, AppFolio presently has a consensus rating of “Hold” and an average price target of $276.29.

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.