Allspring Global Investments Holdings LLC Purchases 36,265 Shares of AppFolio, Inc. (NASDAQ:APPF)

Allspring Global Investments Holdings LLC increased its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 497.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,552 shares of the software maker’s stock after buying an additional 36,265 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of AppFolio worth $7,545,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fred Alger Management LLC lifted its position in AppFolio by 623.8% during the 4th quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock worth $52,391,000 after acquiring an additional 428,479 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of AppFolio during the 3rd quarter worth about $33,062,000. Norges Bank bought a new stake in AppFolio during the 4th quarter valued at approximately $17,253,000. Nellore Capital Management LLC acquired a new stake in AppFolio in the 1st quarter valued at approximately $16,069,000. Finally, Morgan Stanley increased its position in AppFolio by 97.4% in the 3rd quarter. Morgan Stanley now owns 206,803 shares of the software maker’s stock worth $37,768,000 after buying an additional 102,025 shares during the period. 62.34% of the stock is owned by institutional investors.

AppFolio Stock Up 1.0 %

NASDAQ:APPF opened at $216.72 on Thursday. The firm has a market capitalization of $7.77 billion, a PE ratio of 7,226.41 and a beta of 0.80. AppFolio, Inc. has a 12-month low of $123.36 and a 12-month high of $253.42. The firm has a 50-day moving average price of $231.83 and a 200 day moving average price of $203.65.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. On average, research analysts expect that AppFolio, Inc. will post 2.66 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now directly owns 51,070 shares of the company’s stock, valued at approximately $11,605,146.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock worth $3,531,011 over the last three months. Company insiders own 9.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APPF shares. Stephens reissued an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, January 26th. KeyCorp raised their price target on shares of AppFolio from $254.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, BTIG Research started coverage on AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.40.

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.