Assetmark Inc. Boosts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Assetmark Inc. grew its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 7.5% in the 4th quarter, HoldingsChannel reports. The firm owned 2,570 shares of the software maker’s stock after acquiring an additional 179 shares during the quarter. Assetmark Inc.’s holdings in AppFolio were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Lord Abbett & CO. LLC lifted its position in shares of AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares during the last quarter. Deepwater Asset Management LLC bought a new position in AppFolio in the 4th quarter worth approximately $15,483,000. FMR LLC grew its stake in AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after buying an additional 55,348 shares in the last quarter. Franklin Resources Inc. raised its holdings in AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring an additional 54,386 shares during the period. Finally, State Street Corp lifted its position in shares of AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APPF has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a report on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, AppFolio has a consensus rating of “Hold” and a consensus price target of $276.29.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the sale, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company’s stock.

AppFolio Stock Down 2.0 %

NASDAQ APPF opened at $210.25 on Thursday. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 37.88 and a beta of 0.89. The stock’s 50-day simple moving average is $232.88 and its two-hundred day simple moving average is $233.32. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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%. On average, equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

AppFolio Company 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.