AppFolio, Inc. (NASDAQ:APPF) Stock Holdings Lowered by Eagle Asset Management Inc.

Eagle Asset Management Inc. reduced its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,422 shares of the software maker's stock after selling 9,266 shares during the period. Eagle Asset Management Inc. owned approximately 0.30% of AppFolio worth $24,742,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE raised its holdings in shares of AppFolio by 200.8% during the 1st quarter. US Bancorp DE now owns 1,444 shares of the software maker's stock valued at $356,000 after buying an additional 964 shares during the period. Vanguard Group Inc. boosted its stake in shares of AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker's stock valued at $531,139,000 after purchasing an additional 73,965 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in AppFolio by 11.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker's stock valued at $10,243,000 after purchasing an additional 4,131 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in AppFolio in the 1st quarter worth $207,000. Finally, Advisors Asset Management Inc. boosted its position in AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock valued at $44,000 after buying an additional 134 shares during the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now owns 9,383 shares of the company's stock, valued at approximately $2,221,612.91. This trade represents a 12.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,865 shares of company stock worth $5,799,618. Insiders own 5.24% of the company's stock.

AppFolio Price Performance

NASDAQ:APPF traded up $5.66 during midday trading on Friday, reaching $242.39. 195,553 shares of the company traded hands, compared to its average volume of 238,626. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. The company has a fifty day moving average price of $222.54 and a 200 day moving average price of $231.07. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company's revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APPF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp decreased their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. StockNews.com cut shares of AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. DA Davidson boosted their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Piper Sandler Companies reiterated an "overweight" rating and issued a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and a consensus price target of $261.75.

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.