Neuberger Berman Group LLC Acquires New Holdings in AppFolio, Inc. (NASDAQ:APPF)

Neuberger Berman Group LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,126 shares of the software maker’s stock, valued at approximately $278,000.

Several other hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC boosted its holdings 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 valued at $335,000 after buying an additional 40 shares during the period. Exchange Traded Concepts LLC boosted its stake in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after purchasing an additional 40 shares during the period. Independent Advisor Alliance increased its holdings in AppFolio by 2.1% during the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock worth $643,000 after purchasing an additional 53 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of AppFolio by 11.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after purchasing an additional 65 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after purchasing an additional 93 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on APPF. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Stephens reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. 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 assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Hold” and a consensus target price of $276.29.

AppFolio Trading Up 0.5 %

NASDAQ:APPF opened at $224.20 on Friday. The stock has a market capitalization of $8.16 billion, a PE ratio of 40.40 and a beta of 0.86. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The firm has a fifty day simple moving average of $218.26 and a 200 day simple moving average of $231.65.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data 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 net margin of 25.69% and a return on equity of 26.21%. On average, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.