Proficio Capital Partners LLC Purchases New Shares in AppFolio, Inc. (NASDAQ:APPF)

Proficio Capital Partners LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) during the 4th quarter, HoldingsChannel reports. The firm purchased 28,620 shares of the software maker’s stock, valued at approximately $7,061,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of AppFolio in the fourth quarter valued at about $50,000. Blue Trust Inc. grew its position 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 during the period. True Wealth Design LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $79,000. Finally, Advisors Asset Management Inc. grew its position in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. One equities research 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. Based on data from MarketBeat.com, AppFolio has a consensus rating of “Hold” and a consensus price target of $276.29.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost 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 in the company, 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. Insiders have sold 9,184 shares of company stock valued at $2,244,915 over the last ninety days. Company insiders own 5.24% of the company’s stock.

AppFolio Price Performance

Shares of APPF stock opened at $213.76 on Tuesday. The firm’s 50-day moving average is $237.37 and its two-hundred day moving average is $233.71. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The company has a market capitalization of $7.78 billion, a PE ratio of 38.52 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last issued its 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 return on equity of 26.21% and a net margin of 25.69%. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

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.