Arrowstreet Capital Limited Partnership Has $57.71 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Arrowstreet Capital Limited Partnership raised its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 227.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,892 shares of the software maker’s stock after purchasing an additional 162,540 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.64% of AppFolio worth $57,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in APPF. Vanguard Group Inc. lifted its position in shares of AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock worth $615,696,000 after buying an additional 91,174 shares during the period. State Street Corp boosted its stake in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its position in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after purchasing an additional 32,181 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Stock Up 1.2 %

Shares of APPF stock opened at $222.43 on Wednesday. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 40.08 and a beta of 0.89. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a 50-day moving average price of $223.98 and a 200 day moving average price of $232.49.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. Sell-side analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on APPF shares. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler restated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. Finally, Stephens restated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $276.29.

Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.24% of the company’s stock.

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.