Vanguard Group Inc. Acquires 91,174 Shares of AppFolio, Inc. (NASDAQ:APPF)

Vanguard Group Inc. increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,495,527 shares of the software maker's stock after acquiring an additional 91,174 shares during the period. Vanguard Group Inc. owned about 6.87% of AppFolio worth $615,696,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APPF. UMB Bank n.a. increased its position in shares of AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in AppFolio in the 4th quarter worth approximately $50,000. EverSource Wealth Advisors LLC boosted its stake in AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after buying an additional 208 shares in the last quarter. Jones Financial Companies Lllp grew its position in 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 acquiring an additional 93 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of AppFolio by 126.5% during the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $8.16 during trading hours on Friday, hitting $216.25. The company's stock had a trading volume of 370,541 shares, compared to its average volume of 260,656. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 38.96 and a beta of 0.86. The business has a 50-day simple moving average of $221.98 and a 200-day simple moving average of $232.32.

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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 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 forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research reports. Stephens reaffirmed an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. 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. William Blair reiterated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Finally, KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, AppFolio currently has an average rating of "Hold" and a consensus price target of $276.29.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the acquisition, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by company insiders.

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.