Capital Impact Advisors LLC Grows Holdings in AppFolio, Inc. $APPF

Capital Impact Advisors LLC boosted its position in AppFolio, Inc. (NASDAQ:APPF) by 32.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,378 shares of the software maker’s stock after buying an additional 8,691 shares during the quarter. AppFolio accounts for approximately 2.2% of Capital Impact Advisors LLC’s holdings, making the stock its 22nd biggest holding. Capital Impact Advisors LLC owned about 0.10% of AppFolio worth $9,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Bank of America Corp DE increased its position in shares of AppFolio by 38.2% during the third quarter. Bank of America Corp DE now owns 194,125 shares of the software maker’s stock worth $53,512,000 after acquiring an additional 53,620 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of AppFolio in the third quarter worth about $3,541,000. Algert Global LLC purchased a new position in AppFolio in the third quarter valued at about $584,000. Alliancebernstein L.P. boosted its holdings in AppFolio by 6.3% in the third quarter. Alliancebernstein L.P. now owns 32,113 shares of the software maker’s stock valued at $8,852,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in AppFolio by 12.8% during the 3rd quarter. Lazard Asset Management LLC now owns 2,735 shares of the software maker’s stock valued at $754,000 after purchasing an additional 310 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APPF shares. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. Keefe, Bruyette & Woods reduced their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a report on Sunday. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $270.83.

Insider Activity

In related news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer directly owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.68% of the company’s stock.

AppFolio Stock Down 2.1%

Shares of NASDAQ APPF opened at $172.50 on Friday. The stock’s 50 day moving average price is $195.40 and its two-hundred day moving average price is $229.94. AppFolio, Inc. has a 52-week low of $161.13 and a 52-week high of $326.04. The stock has a market capitalization of $6.21 billion, a P/E ratio of 44.46 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. The company had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.AppFolio’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, 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.