Wellington Management Group LLP Sells 6,291 Shares of AppFolio, Inc. (NASDAQ:APPF)

Wellington Management Group LLP cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,838 shares of the software maker's stock after selling 6,291 shares during the quarter. Wellington Management Group LLP owned 0.25% of AppFolio worth $22,412,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of AppFolio by 227.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock valued at $57,706,000 after purchasing an additional 162,540 shares in the last quarter. denkapparat Operations GmbH purchased a new position in AppFolio in the fourth quarter valued at $221,000. Pictet Asset Management Holding SA raised its stake in AppFolio by 15.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,133 shares of the software maker's stock valued at $773,000 after buying an additional 417 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in AppFolio during the 4th quarter worth about $1,249,000. Finally, Norges Bank acquired a new position in shares of AppFolio during the 4th quarter worth about $68,037,000. Institutional investors and hedge funds own 85.19% of the company's stock.

AppFolio Trading Up 0.5 %

APPF stock traded up $1.16 during mid-day trading on Friday, hitting $224.20. 223,697 shares of the company were exchanged, compared to its average volume of 265,074. The company has a market capitalization of $8.16 billion, a PE ratio of 40.40 and a beta of 0.86. The firm has a fifty day simple moving average of $218.26 and a 200 day simple moving average of $231.65. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Stephens reiterated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $276.29.

Insider Buying and Selling

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

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.