AppFolio, Inc. (NASDAQ:APPF) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,129 shares of the software maker's stock after selling 8,053 shares during the period. Wellington Management Group LLP owned 0.27% of AppFolio worth $22,864,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after buying an additional 54 shares during the last quarter. CWM LLC lifted its stake in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after purchasing an additional 105 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock worth $52,000 after purchasing an additional 186 shares during the last quarter. Quarry LP boosted its holdings in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker's stock worth $58,000 after purchasing an additional 142 shares during the period. Finally, True Wealth Design LLC bought a new stake in AppFolio during the third quarter valued at $79,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on APPF shares. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Piper Sandler lowered their target price on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, StockNews.com downgraded AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $261.75.

AppFolio Stock Down 1.7 %

AppFolio stock traded down $4.37 during mid-day trading on Friday, hitting $259.18. 150,417 shares of the company's stock traded hands, compared to its average volume of 269,447. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company has a market cap of $9.42 billion, a PE ratio of 72.20 and a beta of 0.86. The firm has a 50 day moving average price of $230.94 and a 200 day moving average price of $232.77.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analysts' expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company's revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, analysts expect that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,700 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the sale, the insider now directly owns 14,716 shares in the company, valued at approximately $3,444,279.80. The trade was a 15.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 700 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now owns 27,566 shares of the company's stock, valued at approximately $7,043,113. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,806 shares of company stock worth $7,164,293 over the last quarter. 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.