AMI Asset Management Corp Increases Holdings in AppFolio, Inc. (NASDAQ:APPF)

AMI Asset Management Corp lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 148.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,859 shares of the software maker’s stock after buying an additional 8,282 shares during the period. AMI Asset Management Corp’s holdings in AppFolio were worth $3,420,000 as of its most recent SEC filing.

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

AppFolio Stock Performance

Shares of NASDAQ:APPF traded up $2.81 during midday trading on Thursday, reaching $249.97. 245,508 shares of the company’s stock traded hands, compared to its average volume of 329,362. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 120.76 and a beta of 0.80. AppFolio, Inc. has a one year low of $164.29 and a one year high of $256.73. The stock has a 50 day moving average of $237.06 and a 200 day moving average of $221.17.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $187.43 million for the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. Sell-side analysts predict that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the transaction, the director now owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the transaction, the director now owns 182,584 shares of the company’s stock, valued at $45,693,471.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss sold 12,170 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The disclosure for this sale can be found here. Insiders have sold a total of 118,091 shares of company stock valued at $27,953,693 over the last ninety days. 9.15% of the stock is currently owned by corporate insiders.

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.