GW&K Investment Management LLC Decreases Stake in AppFolio, Inc. $APPF

GW&K Investment Management LLC cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,403 shares of the software maker’s stock after selling 22,004 shares during the period. GW&K Investment Management LLC’s holdings in AppFolio were worth $39,531,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of APPF. Dimensional Fund Advisors LP lifted its stake in AppFolio by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 278,561 shares of the software maker’s stock valued at $76,796,000 after acquiring an additional 12,521 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of AppFolio during the third quarter valued at approximately $775,000. South Dakota Investment Council lifted its position in AppFolio by 23.3% during the third quarter. South Dakota Investment Council now owns 5,300 shares of the software maker’s stock valued at $1,461,000 after purchasing an additional 1,000 shares during the period. Huntington National Bank boosted its holdings in AppFolio by 69.0% in the third quarter. Huntington National Bank now owns 338 shares of the software maker’s stock worth $93,000 after purchasing an additional 138 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in AppFolio in the third quarter worth approximately $359,000. 85.19% of the stock is currently owned by institutional investors.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on APPF. DA Davidson lowered their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. Piper Sandler reduced their price target on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, UBS Group set a $260.00 price objective on shares of AppFolio and gave the stock a “buy” rating in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $270.83.

AppFolio Stock Up 0.9%

NASDAQ APPF opened at $189.90 on Friday. AppFolio, Inc. has a 52 week low of $161.13 and a 52 week high of $326.04. The company has a market capitalization of $6.83 billion, a P/E ratio of 48.94 and a beta of 0.75. The stock’s 50-day moving average price is $201.63 and its 200-day moving average price is $233.94.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The company had revenue of $248.19 million during the quarter, compared to the consensus estimate of $246.56 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue was up 21.7% on a year-over-year basis. Research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.