SteelPeak Wealth LLC Makes New $247,000 Investment in AppFolio, Inc. (NASDAQ:APPF)

SteelPeak Wealth LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the software maker’s stock, valued at approximately $247,000.

Other large investors also recently modified their holdings of the company. Verdence Capital Advisors LLC grew its position in AppFolio by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after buying an additional 55 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after acquiring an additional 116 shares in the last quarter. Zeno Equity Partners LLP acquired a new position in shares of AppFolio during the fourth quarter valued at approximately $30,000. Capstone Investment Advisors LLC raised its holdings in AppFolio by 5.2% during the fourth quarter. Capstone Investment Advisors LLC now owns 5,158 shares of the software maker’s stock worth $894,000 after purchasing an additional 257 shares in the last quarter. Finally, UBS Group AG raised its holdings in AppFolio by 2.7% during the third quarter. UBS Group AG now owns 12,232 shares of the software maker’s stock worth $2,234,000 after purchasing an additional 318 shares in the last quarter. 62.34% of the stock is owned by institutional investors and hedge funds.

AppFolio Trading Down 1.7 %

APPF stock opened at $244.57 on Monday. AppFolio, Inc. has a one year low of $164.29 and a one year high of $256.73. The firm has a 50-day moving average of $235.25 and a two-hundred day moving average of $220.04. The firm has a market capitalization of $8.86 billion, a PE ratio of 118.15 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. On average, equities research analysts anticipate that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APPF. Stephens reiterated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Piper Sandler assumed coverage on shares of AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, KeyCorp lifted their price objective on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $248.71.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 2,131 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $249.46, for a total transaction of $531,599.26. Following the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AppFolio news, insider Matthew S. Mazza sold 2,131 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $249.46, for a total value of $531,599.26. Following the transaction, the insider now owns 43,680 shares in the company, valued at approximately $10,896,412.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alexander Wolf sold 10,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the sale, the director now owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The disclosure for this sale can be found here. Insiders sold a total of 109,891 shares of company stock valued at $25,950,607 over the last quarter. Company insiders own 9.15% of the company’s stock.

AppFolio Company 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.