Capital Impact Advisors LLC Acquires 363 Shares of AppFolio, Inc. (NASDAQ:APPF)

Capital Impact Advisors LLC lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,732 shares of the software maker’s stock after buying an additional 363 shares during the period. AppFolio comprises 1.0% of Capital Impact Advisors LLC’s holdings, making the stock its 17th largest holding. Capital Impact Advisors LLC’s holdings in AppFolio were worth $838,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of AppFolio in the 1st quarter worth about $30,000. First Horizon Advisors Inc. boosted its stake in shares of AppFolio by 2,922.2% during the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after purchasing an additional 263 shares during the period. Dark Forest Capital Management LP boosted its position in AppFolio by 1,472.2% in the 4th quarter. Dark Forest Capital Management LP now owns 283 shares of the software maker’s stock valued at $30,000 after buying an additional 265 shares during the period. Federated Hermes Inc. purchased a new stake in AppFolio in the 1st quarter valued at about $39,000. Finally, Assetmark Inc. purchased a new stake in AppFolio in the 1st quarter valued at about $45,000. 48.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on APPF. DA Davidson raised shares of AppFolio from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $155.00 to $230.00 in a research report on Thursday, August 31st. JPMorgan Chase & Co. assumed coverage on shares of AppFolio in a research report on Thursday, August 17th. They issued an “overweight” rating and a $200.00 price objective for the company. KeyCorp upped their price target on shares of AppFolio from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. William Blair raised shares of AppFolio from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Finally, StockNews.com assumed coverage on shares of AppFolio in a research report on Thursday, August 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.40.

Insider Activity

In other news, Director Janet Kerr sold 250 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $172.46, for a total value of $43,115.00. Following the transaction, the director now directly owns 16,876 shares of the company’s stock, valued at $2,910,434.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.15% of the company’s stock.

AppFolio Price Performance

AppFolio stock traded down $3.20 during midday trading on Wednesday, reaching $183.79. The company’s stock had a trading volume of 8,292 shares, compared to its average volume of 122,163. The stock’s 50-day simple moving average is $182.17 and its 200-day simple moving average is $154.91. AppFolio, Inc. has a 52-week low of $94.73 and a 52-week high of $201.91. The stock has a market capitalization of $6.55 billion, a P/E ratio of -85.00 and a beta of 0.95.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 27th. The software maker reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.63). AppFolio had a negative net margin of 14.63% and a negative return on equity of 31.03%. The business had revenue of $147.08 million during the quarter, compared to analysts’ expectations of $143.76 million. During the same quarter last year, the business posted ($0.86) earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. As a group, equities research analysts expect that AppFolio, Inc. will post -0.28 earnings per share for the current fiscal year.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.