Federated Hermes Inc. Sells 23,680 Shares of AppFolio, Inc. (NASDAQ:APPF)

Federated Hermes Inc. lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 54.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,091 shares of the software maker's stock after selling 23,680 shares during the period. Federated Hermes Inc. owned approximately 0.06% of AppFolio worth $4,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of AppFolio by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock worth $37,965,000 after buying an additional 5,077 shares in the last quarter. South Dakota Investment Council grew its stake in shares of AppFolio by 94.4% during the 4th quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after acquiring an additional 1,700 shares during the period. Bryce Point Capital LLC purchased a new stake in AppFolio in the 4th quarter worth about $1,392,000. Sei Investments Co. raised its stake in AppFolio by 9.4% in the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after acquiring an additional 3,935 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in AppFolio in the 4th quarter valued at about $292,000. Institutional investors own 85.19% of the company's stock.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction 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 completion of the sale, the chief executive officer now owns 83,824 shares of the company's stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 838 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the sale, the insider now owns 22,701 shares of the company's stock, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson cut their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target for the company. in a report on Friday, January 10th. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Stephens reiterated an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, Piper Sandler reissued a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One 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. Based on data from MarketBeat.com, AppFolio has an average rating of "Hold" and a consensus price target of $272.71.

AppFolio Stock Performance

Shares of APPF stock traded down $5.71 on Tuesday, hitting $221.86. 162,746 shares of the company's stock traded hands, compared to its average volume of 264,653. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 39.97 and a beta of 0.86. The company's fifty day simple moving average is $218.20 and its 200 day simple moving average is $231.57. AppFolio, Inc. has a one year low of $189.01 and a one year 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 the consensus estimate 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, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.