Chicago Partners Investment Group LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Chicago Partners Investment Group LLC purchased a new position in AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,012 shares of the software maker’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in APPF. Lord Abbett & CO. LLC lifted its stake in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after buying an additional 207,204 shares in the last quarter. FMR LLC raised its holdings in AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after acquiring an additional 55,348 shares during the last quarter. Franklin Resources Inc. lifted its position in AppFolio by 31.2% in the 3rd 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. State Street Corp boosted its stake in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity

In other news, Director Scanlan Agnes Bundy sold 500 shares of AppFolio 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 completion of the sale, the director now directly owns 5,416 shares in the company, valued at approximately $1,383,354.72. This trade represents a 8.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the sale, the insider now directly owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,606 shares of company stock valued at $5,958,832. 5.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on APPF shares. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reaffirmed an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $276.29.

AppFolio Price Performance

Shares of APPF opened at $231.73 on Wednesday. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 41.75 and a beta of 0.88. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The business’s 50 day simple moving average is $253.09 and its 200-day simple moving average is $235.00.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, sell-side analysts expect that AppFolio, Inc. will post 4.21 earnings per share 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.