Lecap Asset Management Ltd. Grows Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Lecap Asset Management Ltd. increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 114.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,842 shares of the software maker’s stock after acquiring an additional 4,723 shares during the period. Lecap Asset Management Ltd.’s holdings in AppFolio were worth $1,944,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APPF. Sanctuary Advisors LLC lifted its stake in shares of AppFolio by 4.4% in the 4th quarter. Sanctuary Advisors LLC now owns 2,958 shares of the software maker’s stock valued at $750,000 after purchasing an additional 125 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in AppFolio by 22.7% in the 4th quarter. Handelsbanken Fonder AB now owns 5,400 shares of the software maker’s stock valued at $1,332,000 after buying an additional 1,000 shares during the period. ING Groep NV purchased a new position in AppFolio during the fourth quarter worth about $962,000. Bank of New York Mellon Corp boosted its stake in AppFolio by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 207,136 shares of the software maker’s stock worth $51,105,000 after buying an additional 5,270 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of AppFolio by 8.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 114,462 shares of the software maker’s stock valued at $28,240,000 after acquiring an additional 9,401 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 5,900 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the sale, the chief executive officer now owns 70,647 shares of the company’s stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the completion of the transaction, the insider now owns 17,926 shares of the company’s stock, valued at $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APPF. Piper Sandler restated a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their price target on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Finally, DA Davidson raised AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Stock Up 1.8%

AppFolio stock opened at $232.58 on Wednesday. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The firm has a market cap of $8.38 billion, a PE ratio of 43.39 and a beta of 0.87. The company’s 50 day moving average is $216.17 and its two-hundred day moving average is $227.39.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

AppFolio Company Profile

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.