Bank of Montreal Can Sells 16,519 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bank of Montreal Can reduced its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 81.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,680 shares of the software maker's stock after selling 16,519 shares during the period. Bank of Montreal Can's holdings in AppFolio were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of APPF. UMB Bank n.a. boosted its position 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 in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of AppFolio in the 4th quarter worth about $50,000. Aster Capital Management DIFC Ltd lifted its position in AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after acquiring an additional 206 shares during the period. EverSource Wealth Advisors LLC boosted 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 worth $55,000 after acquiring an additional 208 shares in the last quarter. Finally, Jones Financial Companies Lllp grew 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 purchasing an additional 93 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on APPF. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. DA Davidson cut their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, Stephens reaffirmed an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $272.71.

AppFolio Price Performance

Shares of NASDAQ:APPF traded down $8.88 during midday trading on Monday, hitting $209.90. The company had a trading volume of 203,592 shares, compared to its average volume of 264,455. The company has a fifty day moving average of $217.85 and a two-hundred day moving average of $231.14. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 37.82 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.69% and a return on equity of 26.21%. Research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 3,501 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander Wolf purchased 9,678 shares of the firm's stock in a transaction 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 purchase, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by company insiders.

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.