Fiera Capital Corp Raises Stock Position in AppFolio, Inc. $APPF

Fiera Capital Corp boosted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 30.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 213,151 shares of the software maker’s stock after buying an additional 50,275 shares during the period. Fiera Capital Corp’s holdings in AppFolio were worth $49,590,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Hantz Financial Services Inc. increased its stake in AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after buying an additional 112 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after buying an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new stake in AppFolio in the 3rd quarter worth $55,000. Finally, Employees Retirement System of Texas purchased a new stake in AppFolio in the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of analyst reports. Piper Sandler cut their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. UBS Group set a $210.00 price target on AppFolio in a research note on Friday, April 24th. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Benchmark increased their price objective on shares of AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.29.

AppFolio Trading Down 1.2%

Shares of NASDAQ:APPF opened at $164.90 on Tuesday. AppFolio, Inc. has a 12 month low of $142.73 and a 12 month high of $326.04. The company has a 50-day moving average price of $160.25 and a 200 day moving average price of $189.53. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 39.26 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,584 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $546,560.00. Following the sale, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. This represents a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.57% of the stock is currently owned by insiders.

About AppFolio

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.