AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,610 shares of the software maker's stock after selling 24,536 shares during the period. Prudential Financial Inc.'s holdings in AppFolio were worth $2,371,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Congress Wealth Management LLC DE bought a new stake in AppFolio in the fourth quarter worth about $226,000. Vanguard Group Inc. boosted its holdings in AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after acquiring an additional 91,174 shares during the period. Stevens Capital Management LP bought a new position in AppFolio in the 4th quarter valued at $202,000. KLP Kapitalforvaltning AS purchased a new stake in AppFolio in the fourth quarter worth $1,456,000. Finally, Sei Investments Co. lifted its position in shares of AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock worth $11,306,000 after purchasing an additional 3,935 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. 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 research note on Friday, January 10th. Finally, Stephens restated an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $276.29.

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Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 838 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

AppFolio Stock Performance

APPF traded down $6.53 on Tuesday, hitting $208.24. The company had a trading volume of 398,440 shares, compared to its average volume of 263,432. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 37.52 and a beta of 0.86. The stock has a fifty day moving average price of $219.32 and a 200-day moving average price of $231.90. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data 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%. Analysts forecast that AppFolio, Inc. will post 3.96 EPS 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.