Martingale Asset Management L P Buys 26,763 Shares of AppFolio, Inc. (NASDAQ:APPF)

Martingale Asset Management L P grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 353.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,344 shares of the software maker’s stock after acquiring an additional 26,763 shares during the quarter. Martingale Asset Management L P owned 0.09% of AppFolio worth $8,473,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. boosted its position in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after acquiring an additional 110 shares during the period. Arcadia Investment Management Corp MI acquired a new position in AppFolio in the fourth quarter valued at about $50,000. Aster Capital Management DIFC Ltd raised its stake in AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock valued at $51,000 after purchasing an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock valued at $55,000 after purchasing an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on APPF shares. Stephens reaffirmed an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research note on Friday, January 10th. Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $276.29.

Insider Transactions at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $228.54 on Thursday. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market cap of $8.32 billion, a PE ratio of 41.18 and a beta of 0.86. The stock has a fifty day moving average price of $218.72 and a 200-day moving average price of $231.82.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.