Proficio Capital Partners LLC Takes $7.06 Million Position in AppFolio, Inc. (NASDAQ:APPF)

Proficio Capital Partners LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 28,620 shares of the software maker’s stock, valued at approximately $7,061,000. Proficio Capital Partners LLC owned approximately 0.08% of AppFolio as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after acquiring an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after acquiring an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. boosted its stake in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in AppFolio by 31.2% in the third 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 in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp cut 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. Stephens reaffirmed an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. One investment 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’s stock. Based on data from MarketBeat, AppFolio has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Price Performance

Shares of AppFolio stock opened at $213.76 on Tuesday. The firm has a fifty day moving average price of $237.37 and a 200 day moving average price of $233.71. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The stock has a market cap of $7.78 billion, a PE ratio of 38.52 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, equities analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 27,566 shares of the company’s stock, valued at $7,043,113. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now owns 3,226 shares of the company’s stock, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 9,184 shares of company stock valued at $2,244,915 over the last 90 days. Insiders own 5.24% of the company’s stock.

AppFolio 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.