First Trust Advisors LP Reduces Holdings in AppFolio, Inc. (NASDAQ:APPF)

First Trust Advisors LP decreased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,445 shares of the software maker's stock after selling 58,413 shares during the period. First Trust Advisors LP owned about 0.35% of AppFolio worth $31,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of APPF. Canada Pension Plan Investment Board lifted its position in shares of AppFolio by 24.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 53,000 shares of the software maker's stock valued at $13,076,000 after buying an additional 10,400 shares during the last quarter. Jump Financial LLC purchased a new stake in AppFolio during the fourth quarter valued at about $5,578,000. Bridgewater Associates LP boosted its position in AppFolio by 2.9% during the fourth quarter. Bridgewater Associates LP now owns 77,301 shares of the software maker's stock worth $19,072,000 after purchasing an additional 2,156 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of AppFolio in the fourth quarter worth about $597,000. Finally, Mariner LLC increased its stake in shares of AppFolio by 9.0% in the fourth quarter. Mariner LLC now owns 2,107 shares of the software maker's stock worth $520,000 after purchasing an additional 174 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Trading Up 4.9 %

Shares of NASDAQ APPF traded up $9.47 during midday trading on Monday, hitting $201.49. 940,841 shares of the company's stock were exchanged, compared to its average volume of 270,041. The business's fifty day moving average price is $218.06 and its two-hundred day moving average price is $230.97. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 36.30 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 - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same period in the previous year, the company earned $1.05 EPS. AppFolio's quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APPF. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Stephens restated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson decreased their price target on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $274.43.

Insiders Place Their Bets

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

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.