Harbor Capital Advisors Inc. Increases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Harbor Capital Advisors Inc. boosted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,227 shares of the software maker’s stock after purchasing an additional 646 shares during the period. Harbor Capital Advisors Inc.’s holdings in AppFolio were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of APPF. Wealth Enhancement Advisory Services LLC raised its position in shares of AppFolio by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,620 shares of the software maker’s stock valued at $1,558,000 after buying an additional 157 shares during the period. Westwind Capital raised its position in AppFolio by 0.5% in the fourth quarter. Westwind Capital now owns 77,583 shares of the software maker’s stock valued at $19,141,000 after purchasing an additional 370 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after purchasing an additional 5,077 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock worth $41,861,000 after purchasing an additional 24,697 shares during the period. Finally, Lord Abbett & CO. LLC increased 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 worth $108,116,000 after purchasing an additional 207,204 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the completion of the sale, the insider now owns 27,566 shares in the company, valued at $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,768 shares of company stock valued at $5,744,891. 5.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 research report on Friday. Piper Sandler lowered shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective on the stock. in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $261.88.

AppFolio Stock Down 0.5 %

AppFolio stock opened at $242.55 on Tuesday. AppFolio, Inc. has a 52-week low of $171.19 and a 52-week high of $274.56. The firm has a market cap of $8.81 billion, a PE ratio of 67.56 and a beta of 0.87. The company’s 50 day moving average is $247.80 and its two-hundred day moving average is $235.45.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same period last year, the business posted $0.26 earnings per share. AppFolio’s revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal 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.