Atika Capital Management LLC Cuts Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Atika Capital Management LLC reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,300 shares of the software maker's stock after selling 1,700 shares during the quarter. AppFolio comprises about 1.5% of Atika Capital Management LLC's portfolio, making the stock its 14th biggest position. Atika Capital Management LLC owned approximately 0.16% of AppFolio worth $14,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APPF. JPMorgan Chase & Co. raised its position in shares of AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock worth $37,965,000 after purchasing an additional 5,077 shares during the period. Captrust Financial Advisors lifted its stake in shares of AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker's stock valued at $1,030,000 after buying an additional 2,830 shares in the last quarter. South Dakota Investment Council grew its holdings in shares of AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock valued at $864,000 after buying an additional 1,700 shares during the last quarter. Bryce Point Capital LLC bought a new stake in shares of AppFolio during the fourth quarter worth about $1,392,000. Finally, SYM FINANCIAL Corp acquired a new stake in shares of AppFolio in the 4th quarter worth about $292,000. Institutional investors own 85.19% of the company's stock.

Remove Ads

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf purchased 9,678 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $213,941.40. Following the sale, the insider now directly owns 22,701 shares of the company's stock, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APPF shares. Piper Sandler restated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Stephens reiterated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, 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 research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, AppFolio has a consensus rating of "Hold" and a consensus price target of $276.29.

AppFolio Stock Performance

NASDAQ APPF traded down $3.33 during trading on Friday, hitting $219.71. 98,662 shares of the company's stock traded hands, compared to its average volume of 314,017. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 39.59 and a beta of 0.86. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The business has a 50 day moving average of $218.41 and a 200-day moving average of $231.72.

AppFolio (NASDAQ:APPF - Get Free Report) last posted 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 return on equity of 26.21% and a net margin of 25.69%. On average, analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio Profile

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.