JPMorgan Chase & Co. Has $19.96 Million Position in AppFolio, Inc. (NASDAQ:APPF)

JPMorgan Chase & Co. lessened its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 49.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,909 shares of the software maker's stock after selling 80,369 shares during the period. JPMorgan Chase & Co. owned 0.22% of AppFolio worth $19,962,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of AppFolio by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after buying an additional 91,174 shares during the period. State Street Corp raised its holdings in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker's stock worth $153,748,000 after purchasing an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after purchasing an additional 207,204 shares during the period. Geode Capital Management LLC boosted its stake in shares of AppFolio by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker's stock valued at $97,252,000 after purchasing an additional 32,743 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock worth $51,800,000 after buying an additional 54,386 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

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Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stephens restated an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. DA Davidson decreased their price objective on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday. 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 report on Friday, January 10th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $272.71.

AppFolio Price Performance

APPF traded down $5.27 during trading on Tuesday, reaching $222.30. The company had a trading volume of 54,525 shares, compared to its average volume of 264,234. The business's fifty day moving average price is $218.20 and its 200 day moving average price is $231.57. 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 $8.09 billion, a P/E ratio of 40.05 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share 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 predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling

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

AppFolio Company 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.