Scientech Research LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Scientech Research LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,665 shares of the software maker’s stock, valued at approximately $407,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zeno Equity Partners LLP purchased a new position in shares of AppFolio during the 4th quarter valued at $33,434,000. Principal Financial Group Inc. grew its stake in AppFolio by 2,359.8% in the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Squarepoint Ops LLC increased its position in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares during the last quarter. Westwind Capital raised its stake in shares of AppFolio by 301.0% during the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of AppFolio during the 4th quarter valued at about $18,636,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APPF shares. DA Davidson raised their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. KeyCorp upped their price objective on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average target price of $277.75.

Insider Buying and Selling at AppFolio

In other news, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $260.00, for a total transaction of $260,000.00. Following the completion of the transaction, the insider now owns 504,000 shares of the company’s stock, valued at $131,040,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Klaus Schauser sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $260.00, for a total transaction of $260,000.00. Following the sale, the insider now directly owns 504,000 shares in the company, valued at $131,040,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,084 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $251.06, for a total value of $523,209.04. Following the completion of the transaction, the insider now owns 7,976 shares of the company’s stock, valued at $2,002,454.56. The disclosure for this sale can be found here. Insiders sold a total of 41,832 shares of company stock valued at $10,062,598 in the last ninety days. Company insiders own 9.15% of the company’s stock.

AppFolio Stock Performance

AppFolio stock opened at $234.54 on Monday. The business’s 50-day simple moving average is $227.94 and its 200-day simple moving average is $233.53. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The firm has a market capitalization of $8.49 billion, a PE ratio of 113.30 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $197.38 million during 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 company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.53) earnings per share. Research analysts forecast that AppFolio, Inc. will post 3.04 earnings per share for the current year.

About AppFolio

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.