AppFolio Inc (APPF) Position Reduced by Pier Capital LLC

Pier Capital LLC reduced its position in shares of AppFolio Inc (NASDAQ:APPF) by 13.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,504 shares of the software maker’s stock after selling 13,180 shares during the quarter. Pier Capital LLC’s holdings in AppFolio were worth $6,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ingalls & Snyder LLC raised its stake in AppFolio by 4.0% during the 1st quarter. Ingalls & Snyder LLC now owns 6,499 shares of the software maker’s stock worth $516,000 after acquiring an additional 247 shares during the period. Capital Impact Advisors LLC raised its stake in AppFolio by 6.3% during the 4th quarter. Capital Impact Advisors LLC now owns 30,627 shares of the software maker’s stock worth $1,766,000 after acquiring an additional 1,806 shares during the period. American Century Companies Inc. raised its stake in AppFolio by 126.5% during the 4th quarter. American Century Companies Inc. now owns 92,484 shares of the software maker’s stock worth $5,477,000 after acquiring an additional 51,659 shares during the period. Dimensional Fund Advisors LP raised its stake in AppFolio by 24.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 268,322 shares of the software maker’s stock worth $15,889,000 after acquiring an additional 52,387 shares during the period. Finally, Globeflex Capital L P raised its stake in AppFolio by 30.1% during the 4th quarter. Globeflex Capital L P now owns 14,700 shares of the software maker’s stock worth $871,000 after acquiring an additional 3,400 shares during the period. Institutional investors own 30.87% of the company’s stock.

A number of equities research analysts have commented on APPF shares. Morgan Stanley raised their target price on shares of AppFolio from $56.00 to $61.00 and gave the stock an “underweight” rating in a research note on Monday, March 4th. Zacks Investment Research cut shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Tuesday, January 1st. BidaskClub upgraded shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 15th. DA Davidson lifted their price objective on shares of AppFolio to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, TheStreet upgraded shares of AppFolio from a “c+” rating to a “b-” rating in a research report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $66.33.

AppFolio stock opened at $94.55 on Thursday. The company has a market cap of $3.22 billion, a PE ratio of 168.84, a P/E/G ratio of 6.25 and a beta of 1.23. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.53. AppFolio Inc has a 1 year low of $45.10 and a 1 year high of $97.07.

In other news, CFO Ida Kathleen Kane sold 5,000 shares of AppFolio stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $81.70, for a total transaction of $408,500.00. Following the sale, the chief financial officer now owns 5,000 shares in the company, valued at $408,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 42.46% of the company’s stock.

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AppFolio Profile

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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