AppFolio, Inc. $APPF Shares Acquired by Nellore Capital Management LLC

Nellore Capital Management LLC raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 654,865 shares of the software maker’s stock after acquiring an additional 18,563 shares during the period. AppFolio makes up 11.7% of Nellore Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Nellore Capital Management LLC’s holdings in AppFolio were worth $105,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions 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. Optiver Holding B.V. boosted its holdings in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in 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 acquiring an additional 63 shares in the last quarter. Advisory Services Network LLC purchased a new stake in AppFolio during the third quarter worth about $55,000. Finally, Employees Retirement System of Texas acquired a new position in shares of AppFolio in the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.4%

Shares of NASDAQ:APPF opened at $224.27 on Thursday. The company has a market capitalization of $7.94 billion, a PE ratio of 51.20 and a beta of 0.85. AppFolio, Inc. has a twelve month low of $142.56 and a twelve month high of $288.73. The firm has a 50 day simple moving average of $189.81 and a 200-day simple moving average of $173.21.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm had revenue of $281.12 million for the quarter, compared to the consensus estimate of $277.35 million. During the same period last year, the firm posted $1.38 EPS. The company’s revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts predict that AppFolio, Inc. will post 5.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APPF. Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. Guggenheim started coverage on shares of AppFolio in a report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price objective on the stock. Finally, DA Davidson set a $225.00 price objective on shares of AppFolio in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $243.50.

Insider Transactions at AppFolio

In related news, CFO Timothy Mathias Eaton sold 373 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $202.61, for a total transaction of $75,573.53. Following the transaction, the chief financial officer owned 16,714 shares in the company, valued at $3,386,423.54. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 2,656 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $221.85, for a total value of $589,233.60. Following the completion of the sale, the insider owned 8,000 shares of the company’s stock, valued at approximately $1,774,800. This represents a 24.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 179,612 shares of company stock valued at $34,697,503. Insiders own 1.57% of the company’s stock.

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.