KCM Investment Advisors LLC Has $586,000 Stock Holdings in AppFolio, Inc. $APPF

KCM Investment Advisors LLC trimmed its stake in AppFolio, Inc. (NASDAQ:APPF) by 81.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,716 shares of the software maker’s stock after selling 15,970 shares during the quarter. KCM Investment Advisors LLC’s holdings in AppFolio were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in APPF. Quantinno Capital Management LP grew its stake in shares of AppFolio by 22.4% in the first quarter. Quantinno Capital Management LP now owns 50,441 shares of the software maker’s stock valued at $7,961,000 after buying an additional 9,225 shares in the last quarter. Lazard Asset Management LLC lifted its stake in AppFolio by 42.1% in the first quarter. Lazard Asset Management LLC now owns 3,404 shares of the software maker’s stock valued at $537,000 after acquiring an additional 1,009 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of AppFolio in the 1st quarter valued at about $776,000. Lead Edge Capital Management LLC bought a new position in shares of AppFolio in the 1st quarter valued at about $33,183,000. Finally, Renaissance Technologies LLC increased its stake in shares of AppFolio by 55.1% during the 1st quarter. Renaissance Technologies LLC now owns 227,280 shares of the software maker’s stock worth $35,869,000 after purchasing an additional 80,760 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. UBS Group set a $210.00 price objective on AppFolio in a research note on Friday, April 24th. DA Davidson set a $225.00 target price on AppFolio in a research note on Friday. Wall Street Zen cut AppFolio from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $243.50.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,584 shares of AppFolio stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at approximately $11,673,417.50. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total value of $1,298,304.00. Following the completion of the sale, the insider owned 42,400 shares of the company’s stock, valued at $7,645,568. This trade represents a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 43,357 shares of company stock worth $7,614,340 in the last ninety days. 1.57% of the stock is currently owned by company insiders.

AppFolio Stock Performance

Shares of APPF stock opened at $178.27 on Wednesday. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $326.04. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 40.70 and a beta of 0.79. The company has a 50-day simple moving average of $165.35 and a 200 day simple moving average of $172.69.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.02. The firm had revenue of $281.12 million for the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. Sell-side analysts forecast that AppFolio, Inc. will post 5.04 EPS for the current 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.