Legal & General Group Plc Has $8.57 Million Stake in AppFolio, Inc. (NASDAQ:APPF)

Legal & General Group Plc cut its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,745 shares of the software maker's stock after selling 1,783 shares during the quarter. Legal & General Group Plc owned about 0.10% of AppFolio worth $8,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its position in shares of AppFolio by 45.0% during the third quarter. Stifel Financial Corp now owns 1,853 shares of the software maker's stock worth $436,000 after buying an additional 575 shares during the period. Barclays PLC lifted its holdings in AppFolio by 20.5% in the third quarter. Barclays PLC now owns 9,888 shares of the software maker's stock worth $2,327,000 after purchasing an additional 1,681 shares during the period. Sanctuary Advisors LLC acquired a new position in AppFolio during the 3rd quarter valued at about $687,000. Tidal Investments LLC boosted its holdings in shares of AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock valued at $335,000 after acquiring an additional 40 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock worth $51,800,000 after purchasing an additional 54,386 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APPF. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp lowered shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. DA Davidson dropped their target price 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. Stephens restated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $272.71.

Insiders Place Their Bets

In other AppFolio news, Director Alexander Wolf acquired 9,678 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the acquisition, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction dated 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 directly owns 83,824 shares of the company's stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

AppFolio Stock Up 2.4 %

Shares of APPF traded up $5.33 during mid-day trading on Wednesday, reaching $225.62. The company's stock had a trading volume of 240,131 shares, compared to its average volume of 264,220. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 40.68 and a beta of 0.86. The business has a fifty day moving average of $217.95 and a 200 day moving average of $231.06. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

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

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.