AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,136 shares of the software maker's stock after acquiring an additional 5,270 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of AppFolio worth $51,105,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of AppFolio in the fourth quarter worth $50,000. Blue Trust Inc. raised its holdings in shares of AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of AppFolio in the third quarter worth $79,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock worth $92,000 after acquiring an additional 141 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now owns 27,566 shares of the company's stock, valued at $7,043,113. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,039 shares of company stock valued at $1,153,454. Insiders own 5.24% of the company's stock.

Remove Ads

AppFolio Trading Up 0.4 %

NASDAQ:APPF traded up $0.78 on Friday, hitting $220.89. 317,834 shares of the stock were exchanged, compared to its average volume of 304,264. The stock has a market cap of $8.04 billion, a PE ratio of 39.80 and a beta of 0.89. The stock has a fifty day moving average of $234.89 and a 200-day moving average of $233.61. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

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 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%. As a group, analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.