Mission Wealth Management LP Has $9.10 Million Stock Holdings in AppFolio, Inc. $APPF

Mission Wealth Management LP decreased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 20.5% during the 4th quarter, HoldingsChannel reports. The firm owned 39,107 shares of the software maker’s stock after selling 10,094 shares during the quarter. Mission Wealth Management LP’s holdings in AppFolio were worth $9,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in shares of AppFolio in the 3rd quarter valued at $31,000. TD Private Client Wealth LLC increased its stake in shares of AppFolio by 2,116.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after purchasing an additional 127 shares during the last quarter. First Horizon Corp bought a new position in shares of AppFolio in the 3rd quarter valued at $39,000. Hantz Financial Services Inc. increased its stake in shares of AppFolio by 373.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of AppFolio by 48.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson decreased their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. decreased their price target on AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Keefe, Bruyette & Woods decreased their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Finally, Piper Sandler decreased their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Nine research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $252.29.

Insider Buying and Selling at AppFolio

In related news, 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 transaction of $312,761.36. Following the sale, the insider owned 21,545 shares of the company’s stock, valued at $3,406,695.40. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total value of $1,181,829.99. Following the sale, the chief executive officer directly owned 52,920 shares in the company, valued at approximately $8,982,111.60. This trade represents a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.57% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $151.70 on Monday. AppFolio, Inc. has a twelve month low of $142.73 and a twelve month high of $326.04. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 36.12 and a beta of 0.82. The business’s fifty day moving average is $162.89 and its 200 day moving average is $198.94.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating 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 the consensus estimate of $258.13 million. During the same quarter last year, the business posted $1.21 EPS. AppFolio’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current fiscal year.

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.