Kayne Anderson Rudnick Investment Management LLC Buys Shares of 419,518 AppFolio, Inc. (NASDAQ:APPF)

Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 419,518 shares of the software maker’s stock, valued at approximately $103,503,000. Kayne Anderson Rudnick Investment Management LLC owned about 1.15% of AppFolio as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in APPF. Vanguard Group Inc. lifted its position in AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after purchasing an additional 91,174 shares during the period. FMR LLC raised its stake in shares of AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after buying an additional 536,591 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of AppFolio by 82.2% in the third 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 grew its holdings in AppFolio by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 416,508 shares of the software maker’s stock worth $102,791,000 after acquiring an additional 3,476 shares during the period. Finally, DF Dent & Co. Inc. grew its holdings in AppFolio by 17.7% during the fourth quarter. DF Dent & Co. Inc. now owns 413,968 shares of the software maker’s stock worth $102,134,000 after acquiring an additional 62,277 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

APPF has been the topic of several research analyst reports. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reiterated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson lowered their price target on AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Hold” and an average price target of $272.71.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company’s stock, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is owned by corporate insiders.

AppFolio Trading Up 0.4 %

Shares of APPF stock opened at $218.78 on Friday. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 39.42 and a beta of 0.86. The firm has a 50-day moving average price of $217.92 and a 200 day moving average price of $231.23.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that AppFolio, Inc. will post 3.96 earnings per share 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.