Dakota Wealth Management Purchases New Position in AppFolio, Inc. (NASDAQ:APPF)

Dakota Wealth Management acquired a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,374 shares of the software maker’s stock, valued at approximately $339,000.

A number of other institutional investors have also recently bought and sold shares of APPF. State Street Corp grew its holdings in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after buying an additional 49,238 shares during the period. Lord Abbett & CO. LLC lifted its holdings in AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Geode Capital Management LLC grew 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 during the period. DF Dent & Co. Inc. grew 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 during the period. Finally, Franklin Resources Inc. increased its holdings in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after acquiring an additional 54,386 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Activity

In other news, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scanlan Agnes Bundy sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the transaction, the director now owns 5,416 shares in the company, valued at approximately $1,383,354.72. The trade was a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock worth $5,744,891 in the last quarter. Corporate insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APPF. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $268.57.

AppFolio Stock Down 4.1 %

NASDAQ APPF opened at $250.03 on Friday. The firm’s 50 day moving average is $252.13 and its 200-day moving average is $235.86. The company has a market capitalization of $9.08 billion, a PE ratio of 69.65 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $172.98 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.2 EPS for the current year.

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.