AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Burney Co.

Burney Co. trimmed its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 73.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,255 shares of the software maker's stock after selling 27,950 shares during the quarter. Burney Co.'s holdings in AppFolio were worth $2,530,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. Blue Trust Inc. raised its holdings in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after purchasing an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after purchasing an additional 186 shares in the last quarter. Quarry LP raised its holdings in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker's stock valued at $58,000 after buying an additional 142 shares during the period. True Wealth Design LLC acquired a new position in AppFolio during the third quarter valued at approximately $79,000. Finally, Advisors Asset Management Inc. grew its stake in AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock worth $92,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on APPF shares. Piper Sandler downgraded shares of AppFolio from an "overweight" rating to a "neutral" rating and set a $265.00 target price on the stock. in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered AppFolio from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $261.88.

AppFolio Stock Down 0.1 %

Shares of AppFolio stock traded down $0.21 during trading hours on Thursday, hitting $252.28. 309,244 shares of the company's stock traded hands, compared to its average volume of 225,614. AppFolio, Inc. has a twelve month low of $171.19 and a twelve month high of $274.56. The stock has a 50 day simple moving average of $248.90 and a 200-day simple moving average of $235.58. The company has a market cap of $9.17 billion, a PE ratio of 70.27 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $199.11 million. During the same quarter last year, the firm earned $0.26 EPS. AppFolio's quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the transaction, the insider now directly owns 28,266 shares of the company's stock, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares in the company, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,768 shares of company stock worth $5,744,891. 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.