KCM Investment Advisors LLC Has $586,000 Stock Holdings in AppFolio, Inc. $APPF

KCM Investment Advisors LLC trimmed its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 81.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,716 shares of the software maker’s stock after selling 15,970 shares during the quarter. KCM Investment Advisors LLC’s holdings in AppFolio were worth $586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC acquired a new position in AppFolio in the third quarter valued at about $55,000. Employees Retirement System of Texas acquired a new position in AppFolio in the third quarter valued at about $58,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of AppFolio in the third quarter worth about $69,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the transaction, the insider directly owned 42,400 shares of the company’s stock, valued at $7,645,568. This trade represents a 14.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Shane Trigg sold 3,584 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the completion of the sale, the chief executive officer directly owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 43,357 shares of company stock worth $7,614,340. Insiders own 1.57% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $178.27 on Wednesday. The stock has a market capitalization of $6.30 billion, a P/E ratio of 40.70 and a beta of 0.79. The business has a 50-day moving average of $165.35 and a 200-day moving average of $172.69. AppFolio, Inc. has a fifty-two week low of $142.56 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same period last year, the company earned $1.38 earnings per share. AppFolio’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 5.04 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on APPF. UBS Group set a $210.00 price target on AppFolio in a research report on Friday, April 24th. Weiss Ratings cut AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Benchmark raised their target price on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Guggenheim started coverage on shares of AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target for the company. Finally, Piper Sandler reduced their price target on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $243.50.

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.