Alliancebernstein L.P. Buys 3,142 Shares of AppFolio, Inc. (NASDAQ:APPF)

Alliancebernstein L.P. boosted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,749 shares of the software maker's stock after acquiring an additional 3,142 shares during the period. Alliancebernstein L.P. owned 0.08% of AppFolio worth $7,586,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of APPF. UMB Bank n.a. lifted its holdings in shares of AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in AppFolio during the 4th quarter valued at approximately $50,000. EverSource Wealth Advisors LLC raised its stake in AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after buying an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after acquiring an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Down 2.5 %

NASDAQ:APPF traded down $5.53 on Wednesday, hitting $216.33. The stock had a trading volume of 91,713 shares, compared to its average volume of 264,347. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 38.98 and a beta of 0.86. The business's 50-day simple moving average is $218.10 and its two-hundred day simple moving average is $231.50.

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AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In other news, Director Alexander Wolf bought 9,678 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were bought 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 approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the transaction, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on APPF shares. Stephens reaffirmed an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Finally, DA Davidson decreased their target price on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $272.71.

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.