Crestline Management LP Buys Shares of 1,200 AppFolio, Inc. (NASDAQ:APPF)

Crestline Management LP purchased a new position in AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,200 shares of the software maker’s stock, valued at approximately $296,000.

A number of other institutional investors have also recently made changes to their positions in the stock. South Dakota Investment Council lifted its stake in AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after purchasing an additional 1,700 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in AppFolio in the fourth quarter worth approximately $1,392,000. Sei Investments Co. grew its position in AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock valued at $11,306,000 after acquiring an additional 3,935 shares during the last quarter. SYM FINANCIAL Corp bought a new stake in shares of AppFolio in the 4th quarter worth approximately $292,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of AppFolio in the 4th quarter valued at $557,000. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Down 0.7 %

APPF opened at $214.29 on Friday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a market cap of $7.72 billion, a PE ratio of 38.61 and a beta of 0.99. The business has a 50 day moving average of $217.30 and a 200-day moving average of $231.08.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on APPF. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson reduced their price target on AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Stephens reiterated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut their price target on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. One research 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 MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $274.43.

Insider Buying and Selling at AppFolio

In related news, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. 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.