193,596 Shares in AppFolio, Inc. $APPF Acquired by Hudson Way Capital Management LLC

Hudson Way Capital Management LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 193,596 shares of the software maker’s stock, valued at approximately $53,367,000. AppFolio makes up 4.5% of Hudson Way Capital Management LLC’s portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in shares of AppFolio by 3.6% in the second quarter. ProShare Advisors LLC now owns 1,078 shares of the software maker’s stock valued at $248,000 after acquiring an additional 37 shares during the period. Truist Financial Corp raised its position in AppFolio by 1.1% in the 3rd quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock valued at $1,083,000 after purchasing an additional 43 shares during the last quarter. Amalgamated Bank raised its position in AppFolio by 0.4% in the 3rd quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in AppFolio by 3.1% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock worth $418,000 after purchasing an additional 46 shares during the period. Finally, Woodline Partners LP boosted its stake in AppFolio by 2.9% during the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

Shares of AppFolio stock opened at $172.50 on Monday. AppFolio, Inc. has a one year low of $161.13 and a one year high of $326.04. The company has a market cap of $6.21 billion, a P/E ratio of 44.46 and a beta of 0.75. The firm has a fifty day moving average of $195.40 and a two-hundred day moving average of $229.61.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. decreased their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Keefe, Bruyette & Woods dropped their price target on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, UBS Group set a $260.00 price objective on AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.83.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the sale, the chief executive officer owned 52,920 shares of the company’s stock, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.68% of the stock is currently owned by insiders.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.