SG Americas Securities LLC Has $3.98 Million Position in AppFolio, Inc. $APPF

SG Americas Securities LLC boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 666.2% during the first quarter, Holdings Channel reports. The fund owned 25,185 shares of the software maker’s stock after purchasing an additional 21,898 shares during the period. SG Americas Securities LLC’s holdings in AppFolio were worth $3,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares during the period. Advisory Services Network LLC bought a new stake in shares of AppFolio during the 3rd quarter worth about $55,000. Employees Retirement System of Texas acquired a new position in AppFolio in the 3rd quarter valued at about $58,000. Finally, Harvest Fund Management Co. Ltd bought a new position in AppFolio in the 3rd quarter valued at about $69,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APPF shares. UBS Group set a $210.00 price objective on shares of AppFolio in a research report on Friday, April 24th. Piper Sandler lowered their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Benchmark lifted their price target on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.29.

AppFolio Stock Up 0.6%

Shares of AppFolio stock opened at $156.57 on Tuesday. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $326.04. The company has a 50-day simple moving average of $160.55 and a two-hundred day simple moving average of $181.63. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 37.28 and a beta of 0.80.

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, beating analysts’ consensus estimates of $1.47 by $0.14. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Evan Pickering sold 660 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00. Following the completion of the sale, the general counsel directly owned 6,555 shares in the company, valued at approximately $1,017,663.75. This represents a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Mathias Eaton sold 2,585 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $160.07, for a total value of $413,780.95. Following the sale, the chief financial officer directly owned 18,036 shares in the company, valued at approximately $2,887,022.52. This trade represents a 12.54% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 8,957 shares of company stock worth $1,399,501. 1.57% of the stock is owned by corporate insiders.

AppFolio Company Profile

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.