Edgestream Partners L.P. Invests $4.07 Million in AppFolio, Inc. (NASDAQ:APPF)

Edgestream Partners L.P. purchased a new position in AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,496 shares of the software maker’s stock, valued at approximately $4,070,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC lifted its stake in AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock worth $335,000 after purchasing an additional 40 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock valued at $158,000 after purchasing an additional 40 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock worth $152,000 after buying an additional 65 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after buying an additional 93 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in AppFolio by 16.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock valued at $171,000 after buying an additional 100 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Trading Up 0.4 %

Shares of NASDAQ APPF opened at $220.89 on Friday. The stock has a market capitalization of $8.04 billion, a PE ratio of 39.80 and a beta of 0.89. The stock has a fifty day simple moving average of $234.89 and a 200-day simple moving average of $233.61. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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 net margin of 25.69% and a return on equity of 26.21%. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander Wolf bought 9,678 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the purchase, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,039 shares of company stock valued at $1,153,454. 5.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on APPF. KeyCorp lowered 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. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, AppFolio currently has an average rating of “Hold” and an average target price of $276.29.

About AppFolio

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.