Fortis Capital Advisors LLC Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

Fortis Capital Advisors LLC purchased a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,574 shares of the software maker’s stock, valued at approximately $597,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APPF. Covestor Ltd increased its holdings in AppFolio by 39.9% in the 4th quarter. Covestor Ltd now owns 1,118 shares of the software maker’s stock valued at $276,000 after purchasing an additional 319 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of AppFolio by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker’s stock valued at $2,457,000 after buying an additional 60 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of AppFolio in the 4th quarter valued at $278,000. Raymond James Financial Inc. purchased a new stake in shares of AppFolio in the 4th quarter valued at $30,195,000. Finally, Martingale Asset Management L P lifted its stake in AppFolio by 353.0% during the 4th quarter. Martingale Asset Management L P now owns 34,344 shares of the software maker’s stock worth $8,473,000 after acquiring an additional 26,763 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alexander Wolf bought 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.24% of the company’s stock.

AppFolio Stock Up 0.5 %

NASDAQ APPF opened at $224.20 on Friday. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The firm has a 50 day moving average of $218.26 and a two-hundred day moving average of $231.65. The stock has a market capitalization of $8.16 billion, a PE ratio of 40.40 and a beta of 0.86.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, AppFolio presently has a consensus 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.