Ranger Investment Management L.P. Lowers Holdings in AppFolio, Inc. (NASDAQ:APPF)

Ranger Investment Management L.P. reduced its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,683 shares of the software maker's stock after selling 2,723 shares during the period. AppFolio accounts for approximately 1.9% of Ranger Investment Management L.P.'s investment portfolio, making the stock its 19th biggest position. Ranger Investment Management L.P. owned approximately 0.33% of AppFolio worth $30,022,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock worth $37,965,000 after purchasing an additional 5,077 shares during the last quarter. South Dakota Investment Council increased its stake in shares of AppFolio by 94.4% in the 4th quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock valued at $864,000 after acquiring an additional 1,700 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of AppFolio in the 4th quarter valued at about $1,392,000. SYM FINANCIAL Corp purchased a new position in AppFolio during the 4th quarter worth $292,000. Finally, Sei Investments Co. grew its position in AppFolio by 9.4% in the 4th 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 in the last quarter. Institutional investors own 85.19% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on APPF. KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Finally, Stephens reiterated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. One 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 stock. According to data from MarketBeat, AppFolio currently has a consensus rating of "Hold" and a consensus price target of $276.29.

Insider Transactions at AppFolio

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 transaction of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander Wolf acquired 9,678 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.24% of the company's stock.

AppFolio Price Performance

APPF traded up $0.60 during midday trading on Monday, reaching $224.80. 59,821 shares of the company's stock traded hands, compared to its average volume of 264,615. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The firm has a fifty day moving average of $218.26 and a two-hundred day moving average of $231.62. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 40.50 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last posted 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%. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

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.