Daiwa Securities Group Inc. Increases Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Daiwa Securities Group Inc. raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 485.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,022 shares of the software maker’s stock after purchasing an additional 5,822 shares during the period. Daiwa Securities Group Inc.’s holdings in AppFolio were worth $1,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after buying an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $50,000. Jones Financial Companies Lllp boosted its position in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after acquiring an additional 93 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after purchasing an additional 148 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in AppFolio in the third quarter worth $79,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $216.74 on Friday. The business has a 50 day simple moving average of $232.05 and a two-hundred day simple moving average of $233.13. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market capitalization of $7.89 billion, a PE ratio of 39.05 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) 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%. Equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

APPF has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.29.

Insider Activity

In other news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.

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.