Summit Global Investments lowered its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,612 shares of the software maker's stock after selling 1,613 shares during the quarter. Summit Global Investments' holdings in AppFolio were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of APPF. UMB Bank n.a. boosted its stake in AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after acquiring an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of AppFolio in the fourth quarter worth about $50,000. EverSource Wealth Advisors LLC increased its holdings in AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after acquiring an additional 208 shares during the period. Jones Financial Companies Lllp grew its position in shares of AppFolio by 60.4% during the 4th 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 in the last quarter. Finally, Blue Trust Inc. raised its position in shares of AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after buying an additional 148 shares in the last quarter. 85.19% of the stock is owned by institutional investors.
Analyst Ratings Changes
APPF has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Stephens reiterated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. KeyCorp cut 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 note on Friday, January 10th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of "Hold" and an average price target of $276.29.
View Our Latest Stock Analysis on AppFolio
Insider Buying and Selling at AppFolio
In related news, Director Alexander Wolf bought 9,678 shares of the stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew S. Mazza sold 838 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company's stock.
AppFolio Trading Up 4.4 %
AppFolio stock traded up $9.73 during mid-day trading on Tuesday, hitting $230.33. The company had a trading volume of 690,434 shares, compared to its average volume of 266,735. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock's 50 day moving average price is $227.40 and its two-hundred day moving average price is $232.45. The company has a market capitalization of $8.39 billion, a PE ratio of 41.50 and a beta of 0.89.
AppFolio (NASDAQ:APPF - Get Free Report) last released 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 net margin of 25.69% and a return on equity of 26.21%. Equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.
About AppFolio
(
Free Report)
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.
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