Seaport Global Advisors LLC Invests $399,000 in AppFolio, Inc. (NASDAQ:APPF)

Seaport Global Advisors LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,630 shares of the software maker’s stock, valued at approximately $399,000.

Several other hedge funds have also recently modified their holdings of APPF. Zeno Equity Partners LLP acquired a new stake in AppFolio in the 4th quarter valued at about $33,434,000. Principal Financial Group Inc. raised its holdings in AppFolio by 2,359.8% in the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after acquiring an additional 145,481 shares during the last quarter. Squarepoint Ops LLC raised its holdings in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Westwind Capital raised its holdings in AppFolio by 301.0% in the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after acquiring an additional 112,024 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in AppFolio in the 4th quarter valued at about $18,636,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Maurice J. Duca sold 11,627 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $240.08, for a total value of $2,791,410.16. Following the completion of the transaction, the insider now directly owns 27,768 shares of the company’s stock, valued at $6,666,541.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The disclosure for this sale can be found here. Insiders have sold a total of 41,832 shares of company stock worth $10,062,598 over the last three months. 9.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APPF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Piper Sandler upped their price target on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, DA Davidson boosted their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Price Performance

APPF stock opened at $234.54 on Monday. The firm has a market capitalization of $8.49 billion, a P/E ratio of 113.30 and a beta of 0.81. The business’s 50-day moving average is $227.94 and its two-hundred day moving average is $233.53. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.53) EPS. On average, analysts expect that AppFolio, Inc. will post 3.04 EPS for the current year.

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.