Hood River Capital Management LLC Buys Shares of 239,718 AppFolio, Inc. (APPF)
Hood River Capital Management LLC bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 239,718 shares of the software maker’s stock, valued at approximately $11,494,000. Hood River Capital Management LLC owned about 0.71% of AppFolio at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in APPF. Sei Investments Co. raised its holdings in shares of AppFolio by 50,928.6% during the second quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after acquiring an additional 3,565 shares during the last quarter. American International Group Inc. raised its holdings in shares of AppFolio by 7.2% during the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after acquiring an additional 314 shares during the last quarter. UBS Group AG raised its holdings in shares of AppFolio by 232.9% during the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after acquiring an additional 3,629 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of AppFolio during the second quarter valued at approximately $178,000. Finally, Parametric Portfolio Associates LLC acquired a new position in shares of AppFolio during the second quarter valued at approximately $214,000. 22.52% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on APPF shares. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 24th. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a report on Friday, August 11th. BidaskClub cut AppFolio from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Finally, Morgan Stanley increased their price target on AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. AppFolio currently has a consensus rating of “Buy” and an average price target of $43.00.
In related news, Director Janet Kerr sold 1,576 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $43.08, for a total value of $67,894.08. Following the completion of the transaction, the director now directly owns 17,189 shares in the company, valued at $740,502.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Walker sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total value of $1,337,400.00. Following the completion of the transaction, the insider now owns 1,554,025 shares of the company’s stock, valued at $69,278,434.50. The disclosure for this sale can be found here. Corporate insiders own 44.77% of the company’s stock.
AppFolio, Inc. (NASDAQ:APPF) traded up $1.05 during trading hours on Friday, hitting $43.55. The company had a trading volume of 107,500 shares, compared to its average volume of 100,807. AppFolio, Inc. has a 12-month low of $20.46 and a 12-month high of $52.25. The firm has a market capitalization of $1,442.70, a PE ratio of 265.63 and a beta of 0.70.
AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. AppFolio had a return on equity of 7.91% and a net margin of 4.37%. The firm had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $36.16 million. The business’s quarterly revenue was up 34.6% on a year-over-year basis. research analysts anticipate that AppFolio, Inc. will post 0.25 earnings per share for the current fiscal year.
AppFolio Company Profile
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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