Lecap Asset Management Ltd. Decreases Stake in AppFolio, Inc. (NASDAQ:APPF)

Lecap Asset Management Ltd. decreased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,119 shares of the software maker’s stock after selling 140 shares during the period. Lecap Asset Management Ltd.’s holdings in AppFolio were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Retirement Systems of Alabama increased its position in shares of AppFolio by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 28,064 shares of the software maker’s stock worth $6,924,000 after acquiring an additional 114 shares in the last quarter. Deepwater Asset Management LLC acquired a new stake in AppFolio in the 4th quarter valued at $15,483,000. SYM FINANCIAL Corp purchased a new position in AppFolio in the fourth quarter valued at about $292,000. Chicago Partners Investment Group LLC acquired a new position in shares of AppFolio during the fourth quarter worth about $257,000. Finally, KBC Group NV boosted its position in shares of AppFolio by 65.5% in the fourth quarter. KBC Group NV now owns 1,023 shares of the software maker’s stock worth $252,000 after buying an additional 405 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, AppFolio currently has a consensus rating of “Hold” and an average target price of $276.29.

AppFolio Trading Down 1.6 %

APPF stock opened at $222.98 on Friday. The stock’s 50 day simple moving average is $251.43 and its 200 day simple moving average is $234.59. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market cap of $8.10 billion, a P/E ratio of 40.18 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, research analysts forecast that AppFolio, Inc. will post 4.21 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,606 shares of company stock worth $5,958,832. 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.