Gallacher Capital Management LLC Makes New $203,000 Investment in AppFolio, Inc. (NASDAQ:APPF)

Gallacher Capital Management LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 822 shares of the software maker’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after purchasing an additional 110 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of AppFolio during the 4th quarter worth $50,000. EverSource Wealth Advisors LLC increased its stake in shares of AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock valued at $55,000 after buying an additional 208 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of AppFolio by 60.4% in the fourth 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 in the last quarter. Finally, Blue Trust Inc. raised 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 acquiring an additional 148 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on 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 $18,212,440.48. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by company insiders.

AppFolio Trading Up 4.9 %

Shares of APPF opened at $216.74 on Monday. The firm has a market cap of $7.89 billion, a PE ratio of 39.05 and a beta of 0.89. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a fifty day moving average price of $231.33 and a 200-day moving average price of $233.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 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%. As a group, research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on APPF shares. Piper Sandler reissued a “neutral” rating and set a $265.00 target price 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 note on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.