Delap Wealth Advisory LLC Takes Position in AppFolio, Inc. (NASDAQ:APPF)

Delap Wealth Advisory LLC acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 814 shares of the software maker’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock worth $335,000 after purchasing an additional 40 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of AppFolio by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after purchasing an additional 40 shares in the last quarter. Blue Trust Inc. lifted its position in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock worth $152,000 after purchasing an additional 65 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of AppFolio by 16.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after purchasing an additional 100 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $211.66 on Friday. The business has a fifty day moving average of $242.36 and a two-hundred day moving average of $233.68. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a market cap of $7.70 billion, a PE ratio of 38.14 and a beta of 0.88.

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

Insiders Place Their Bets

In other AppFolio news, Director Scanlan Agnes Bundy sold 500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. The trade was a 8.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 4,145 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,321 shares of company stock valued at $3,034,077. 5.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $276.29.

About AppFolio

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.