AppFolio, Inc. $APPF Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its position in AppFolio, Inc. (NASDAQ:APPF) by 90,272.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,416 shares of the software maker’s stock after purchasing an additional 52,358 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in AppFolio were worth $12,195,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 buying an additional 63 shares during the period. Advisory Services Network LLC acquired a new position in AppFolio during the 3rd quarter worth about $55,000. Employees Retirement System of Texas acquired a new position in AppFolio during the 3rd quarter worth about $58,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in AppFolio during the 3rd quarter valued at about $69,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on APPF. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. UBS Group set a $210.00 price objective on shares of AppFolio in a research note on Friday, April 24th. Benchmark lifted 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. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, Piper Sandler reduced their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and a consensus target price of $252.29.

AppFolio Stock Up 1.5%

Shares of APPF opened at $148.81 on Thursday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 35.43 and a beta of 0.80. AppFolio, Inc. has a 52-week low of $142.56 and a 52-week high of $326.04. The stock has a 50 day moving average price of $160.59 and a 200 day moving average price of $183.35.

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, topping analysts’ consensus estimates of $1.47 by $0.14. The company had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. On average, equities analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, General Counsel Evan Pickering sold 660 shares of AppFolio stock in a transaction on Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the sale, the general counsel directly owned 6,555 shares in the company, valued at $1,017,663.75. This trade represents a 9.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Mathias Eaton sold 2,585 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $160.07, for a total transaction of $413,780.95. Following the completion of the sale, the chief financial officer directly owned 18,036 shares of the company’s stock, valued at approximately $2,887,022.52. This trade represents a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 8,957 shares of company stock valued at $1,399,501. Corporate insiders own 1.57% of the company’s stock.

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.