AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Man Group plc

Man Group plc boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 38.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,729 shares of the software maker’s stock after buying an additional 17,614 shares during the quarter. Man Group plc owned 0.18% of AppFolio worth $15,723,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock worth $615,696,000 after purchasing an additional 91,174 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of AppFolio by 43.2% during the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after buying an additional 197,700 shares during the period. FMR LLC boosted 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 valued at $147,411,000 after buying an additional 536,591 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of AppFolio by 4.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock valued at $141,350,000 after buying an additional 25,566 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of AppFolio during the 4th quarter valued at $103,503,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

Shares of APPF opened at $218.91 on Friday. The company has a 50-day simple moving average of $217.02 and a 200-day simple moving average of $231.31. The firm has a market capitalization of $7.89 billion, a P/E ratio of 39.44 and a beta of 0.99. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56.

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

Wall Street Analyst Weigh In

APPF has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Stephens reaffirmed an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Finally, DA Davidson raised shares of AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average price target of $274.43.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s 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 directly owns 83,824 shares of the company’s stock, valued at approximately $18,212,440.48. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.24% of the stock is currently owned by insiders.

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.