Geode Capital Management LLC Raises Position in AppFolio, Inc. (NASDAQ:APPF)

Geode Capital Management LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,508 shares of the software maker’s stock after buying an additional 3,476 shares during the period. Geode Capital Management LLC owned approximately 1.15% of AppFolio worth $102,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after purchasing an additional 55,348 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of AppFolio by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 9,353 shares of the software maker’s stock valued at $2,200,000 after purchasing an additional 215 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of AppFolio by 45.0% in the 3rd quarter. Stifel Financial Corp now owns 1,853 shares of the software maker’s stock valued at $436,000 after purchasing an additional 575 shares in the last quarter. State Street Corp raised its stake in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in AppFolio by 5.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,824 shares of the software maker’s stock worth $2,077,000 after acquiring an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on APPF. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Stephens reiterated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $276.29.

Insiders Place Their Bets

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction 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 represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by company insiders.

AppFolio Stock Up 9.7 %

Shares of NASDAQ:APPF opened at $228.54 on Thursday. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 41.18 and a beta of 0.86. The firm’s 50-day simple moving average is $218.72 and its 200-day simple moving average is $231.82. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last issued 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 25.69% and a return on equity of 26.21%. On average, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

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.