Quadrature Capital Ltd Grows Position in AppFolio, Inc. (NASDAQ:APPF)

Quadrature Capital Ltd boosted its stake in AppFolio, Inc. (NASDAQ:APPF) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,553 shares of the software maker’s stock after purchasing an additional 2,266 shares during the quarter. Quadrature Capital Ltd owned about 0.15% of AppFolio worth $9,280,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,078,661 shares of the software maker’s stock valued at $360,107,000 after purchasing an additional 76,934 shares during the period. Fred Alger Management LLC grew its stake in AppFolio by 12.2% during the third quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after buying an additional 62,347 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake in AppFolio by 3.8% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after buying an additional 15,283 shares during the period. Norges Bank purchased a new stake in AppFolio during the fourth quarter worth approximately $38,458,000. Finally, Northern Trust Corp grew its stake in AppFolio by 1.1% during the third quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after buying an additional 2,224 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Price Performance

APPF opened at $230.24 on Tuesday. The stock has a market capitalization of $8.34 billion, a PE ratio of 111.23 and a beta of 0.80. The firm’s fifty day moving average price is $232.06 and its 200 day moving average price is $216.83. AppFolio, Inc. has a 12-month low of $162.32 and a 12-month high of $256.73.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. On average, equities research analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on APPF shares. Piper Sandler started coverage on shares of AppFolio in a research note on Monday, June 10th. They set an “overweight” rating and a $295.00 price objective for the company. KeyCorp boosted their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and set a $241.00 target price on shares of AppFolio in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the sale, the insider now directly owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppFolio news, insider Matthew S. Mazza sold 2,131 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $249.46, for a total value of $531,599.26. Following the sale, the insider now directly owns 43,680 shares in the company, valued at $10,896,412.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy K. Bliss sold 41,730 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $232.32, for a total value of $9,694,713.60. Following the completion of the sale, the director now owns 58,270 shares in the company, valued at $13,537,286.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,431 shares of company stock valued at $20,691,480. Company insiders own 9.15% of the company’s stock.

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.