Y Intercept Hong Kong Ltd Has $8.09 Million Stock Holdings in AppFolio, Inc. $APPF

Y Intercept Hong Kong Ltd boosted its position in AppFolio, Inc. (NASDAQ:APPF) by 317.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,263 shares of the software maker’s stock after buying an additional 38,995 shares during the period. Y Intercept Hong Kong Ltd’s holdings in AppFolio were worth $8,090,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares during the period. Advisory Services Network LLC acquired a new position in shares of AppFolio during the third quarter worth approximately $55,000. Employees Retirement System of Texas bought a new position in shares of AppFolio in the 3rd quarter worth $58,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AppFolio in the 3rd quarter worth $69,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of recent research reports. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group set a $210.00 price objective on shares of AppFolio in a report on Friday, April 24th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Benchmark upped their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Piper Sandler dropped their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $252.29.

Insider Activity

In other AppFolio news, insider Elizabeth Erin Barat sold 1,978 shares of AppFolio stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider owned 21,545 shares of the company’s stock, valued at $3,406,695.40. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 3,584 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the transaction, the chief executive officer owned 76,547 shares in the company, valued at $11,673,417.50. The trade was a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,957 shares of company stock valued at $1,399,501 in the last three months. 1.57% of the stock is owned by company insiders.

AppFolio Stock Performance

NASDAQ APPF opened at $170.90 on Friday. The business has a fifty day simple moving average of $161.26 and a 200 day simple moving average of $180.18. AppFolio, Inc. has a 12 month low of $142.56 and a 12 month high of $326.04. The firm has a market capitalization of $6.04 billion, a P/E ratio of 40.69 and a beta of 0.79.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. The firm had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. As a group, sell-side analysts predict that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.