Sei Investments Co. Grows Position in AppFolio, Inc. (NASDAQ:APPF)

Sei Investments Co. boosted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,826 shares of the software maker's stock after acquiring an additional 3,935 shares during the quarter. Sei Investments Co. owned 0.13% of AppFolio worth $11,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tidal Investments LLC grew its holdings in shares of AppFolio by 2.9% during the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock valued at $335,000 after purchasing an additional 40 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in AppFolio by 6.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after buying an additional 40 shares during the period. Independent Advisor Alliance grew its stake in shares of AppFolio by 2.1% during the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after buying an additional 53 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock worth $152,000 after buying an additional 65 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 85.19% of the company's stock.

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AppFolio Trading Down 1.4 %

APPF traded down $3.22 during trading on Thursday, reaching $224.41. The stock had a trading volume of 493,560 shares, compared to its average volume of 259,871. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 40.43 and a beta of 0.86. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock's 50 day moving average is $222.66 and its two-hundred day moving average is $232.40.

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 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 research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity

In other 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 transaction of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 22,701 shares of the company's stock, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. KeyCorp downgraded 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 reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Finally, Stephens restated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One 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.com, AppFolio has a consensus rating of "Hold" and a consensus target price of $276.29.

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.