Handelsbanken Fonder AB Boosts Position in AppFolio, Inc. (NASDAQ:APPF)

Handelsbanken Fonder AB raised its stake in AppFolio, Inc. (NASDAQ:APPF) by 22.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,400 shares of the software maker’s stock after purchasing an additional 1,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in AppFolio were worth $1,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Summit Global Investments acquired a new position in AppFolio in the 3rd quarter worth $759,000. JPMorgan Chase & Co. increased its holdings in AppFolio by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after buying an additional 5,077 shares during the last quarter. Captrust Financial Advisors increased its holdings in AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after buying an additional 3,038 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. Stephens restated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $276.29.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This represents a 5.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander Wolf bought 9,678 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 9,684 shares of company stock worth $2,372,625. Company insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

Shares of APPF opened at $213.23 on Thursday. The firm has a fifty day moving average of $239.62 and a 200-day moving average of $233.67. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 38.42 and a beta of 0.88. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Analysts predict that AppFolio, Inc. will post 3.96 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.