Quantum Capital Management LLC NJ Buys New Shares in AppFolio, Inc. $APPF

Quantum Capital Management LLC NJ bought a new stake in AppFolio, Inc. (NASDAQ:APPF) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 34,366 shares of the software maker’s stock, valued at approximately $7,995,000. AppFolio comprises 0.9% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&T Bank Corp increased its position in shares of AppFolio by 1,643.8% in the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker’s stock valued at $22,370,000 after acquiring an additional 90,639 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of AppFolio in the fourth quarter valued at about $8,795,000. Vanguard Group Inc. increased its position in shares of AppFolio by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after acquiring an additional 101,466 shares during the last quarter. Citigroup Inc. increased its position in shares of AppFolio by 140.3% in the third quarter. Citigroup Inc. now owns 15,641 shares of the software maker’s stock valued at $4,312,000 after acquiring an additional 9,132 shares during the last quarter. Finally, Light Street Capital Management LLC acquired a new stake in shares of AppFolio in the third quarter valued at about $5,513,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,584 shares of the business’s 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 owned 76,547 shares in the company, valued at $11,673,417.50. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the transaction, the insider directly owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.57% of the stock is owned by insiders.

AppFolio Stock Up 1.0%

Shares of NASDAQ APPF opened at $161.21 on Friday. The business’s 50 day moving average price is $160.95 and its two-hundred day moving average price is $188.11. The company has a market cap of $5.70 billion, a PE ratio of 38.38 and a beta of 0.80. AppFolio, Inc. has a twelve month low of $142.73 and a twelve month high of $326.04.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results 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 firm had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. As a group, research analysts anticipate that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

APPF has been the topic of a number of recent research reports. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Finally, Benchmark boosted their price target on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $252.29.

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.