Fuller & Thaler Asset Management Inc. Raises Stake in AppFolio, Inc. (NASDAQ:APPF)

Fuller & Thaler Asset Management Inc. grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,132 shares of the software maker’s stock after buying an additional 14,975 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.51% of AppFolio worth $45,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after purchasing an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio in the 4th quarter worth about $103,503,000. Norges Bank purchased a new stake in shares of AppFolio in the 4th quarter valued at about $68,037,000. Lord Abbett & CO. LLC grew its holdings in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of AppFolio by 227.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock worth $57,706,000 after purchasing an additional 162,540 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In other news, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APPF. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. Stephens restated an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson cut their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research report on Wednesday. Finally, William Blair reiterated 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 assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $272.71.

AppFolio Trading Up 2.4 %

APPF stock opened at $225.66 on Thursday. The firm’s 50-day moving average price is $218.12 and its two-hundred day moving average price is $231.02. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 40.66 and a beta of 0.86. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly 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%. Equities analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

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.