AMI Asset Management Corp Lowers Holdings in AppFolio, Inc. (NASDAQ:APPF)

AMI Asset Management Corp lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,271 shares of the software maker’s stock after selling 187 shares during the period. AMI Asset Management Corp’s holdings in AppFolio were worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Lord Abbett & CO. LLC raised its position in AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares during the period. FMR LLC increased its holdings in shares of AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after purchasing an additional 55,348 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in AppFolio during the second quarter worth $12,993,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APPF. Piper Sandler cut shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $268.57.

AppFolio Trading Down 0.1 %

APPF stock opened at $251.92 on Tuesday. The business’s 50-day moving average is $250.22 and its 200 day moving average is $235.59. AppFolio, Inc. has a 12-month low of $172.98 and a 12-month high of $274.56. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. As a group, equities analysts forecast that AppFolio, Inc. will post 3.2 EPS for the current fiscal year.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares in the company, valued at $7,043,113. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 over the last 90 days. 5.24% of the stock is currently owned by corporate insiders.

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.