Raymond James Financial Inc. Acquires Shares of 122,385 AppFolio, Inc. (NASDAQ:APPF)

Raymond James Financial Inc. bought a new stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 122,385 shares of the software maker's stock, valued at approximately $30,195,000. Raymond James Financial Inc. owned 0.34% of AppFolio at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in AppFolio by 3.3% in the third 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 during the last quarter. Captrust Financial Advisors increased its holdings in AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker's stock worth $1,030,000 after buying an additional 2,830 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in AppFolio by 56.6% in the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock worth $92,000 after buying an additional 141 shares during the last quarter. South Dakota Investment Council increased its holdings in AppFolio by 94.4% in the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after buying an additional 1,700 shares during the last quarter. Finally, EULAV Asset Management increased its holdings in AppFolio by 40.6% in the third quarter. EULAV Asset Management now owns 55,449 shares of the software maker's stock worth $13,053,000 after buying an additional 16,000 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

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Insiders Place Their Bets

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. 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 company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the sale, the insider now directly owns 22,701 shares in the company, 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. Insiders own 5.24% of the company's stock.

AppFolio Trading Down 1.5 %

NASDAQ:APPF traded down $3.30 during mid-day trading on Tuesday, hitting $212.82. The company's stock had a trading volume of 180,731 shares, compared to its average volume of 265,156. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 38.35 and a beta of 0.89. The stock has a fifty day moving average of $230.63 and a 200-day moving average of $232.93.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly 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 return on equity of 26.21% and a net margin of 25.69%. On average, equities analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APPF has been the topic of several analyst reports. William Blair reiterated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reissued a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Stephens reissued an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp cut 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $276.29.

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.