UBS Group AG Lowers Stock Holdings in AppFolio, Inc. $APPF

UBS Group AG lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 26.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,965 shares of the software maker’s stock after selling 14,030 shares during the period. UBS Group AG’s holdings in AppFolio were worth $9,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in APPF. Principal Financial Group Inc. grew its position in shares of AppFolio by 40.1% in the third quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after purchasing an additional 333,861 shares during the period. Hudson Way Capital Management LLC purchased a new stake in shares of AppFolio in the third quarter valued at $53,367,000. Vanguard Group Inc. grew 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 purchasing an additional 101,466 shares during the period. M&T Bank Corp grew 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 purchasing an additional 90,639 shares during the period. Finally, Invesco Ltd. grew its position in shares of AppFolio by 26.1% in the third quarter. Invesco Ltd. now owns 395,651 shares of the software maker’s stock valued at $109,065,000 after purchasing an additional 81,778 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on APPF. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. DA Davidson lowered their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 30th. 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 price target on AppFolio in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Insider Transactions at AppFolio

In other AppFolio news, insider Elizabeth Erin Barat sold 1,978 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at approximately $8,982,111.60. This represents a 11.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.57% of the company’s stock.

AppFolio Price Performance

Shares of APPF opened at $151.70 on Friday. The stock’s 50-day moving average is $162.89 and its two-hundred day moving average is $199.26. The stock has a market cap of $5.36 billion, a PE ratio of 36.12 and a beta of 0.82. AppFolio, Inc. has a 12 month low of $142.73 and a 12 month high of $326.04.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 EPS 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 return on equity of 32.35% and a net margin of 15.27%.The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. On average, research analysts anticipate that AppFolio, Inc. will post 5.04 earnings per share for the current year.

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.