Victory Capital Management Inc. Reduces Position in AppFolio, Inc. (NASDAQ:APPF)

Victory Capital Management Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 76,857 shares of the software maker’s stock after selling 17,166 shares during the period. Victory Capital Management Inc.’s holdings in AppFolio were worth $18,962,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after buying an additional 40 shares during the last quarter. Exchange Traded Concepts LLC grew its position in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock valued at $158,000 after acquiring an additional 40 shares during the last quarter. Nisa Investment Advisors LLC grew its position in AppFolio by 11.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock valued at $152,000 after acquiring an additional 65 shares during the last quarter. Jones Financial Companies Lllp increased its stake in AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after purchasing an additional 93 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of AppFolio by 16.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

NASDAQ APPF opened at $214.46 on Wednesday. The company has a market cap of $7.81 billion, a PE ratio of 38.64 and a beta of 0.89. The firm’s 50 day moving average price is $233.61 and its 200-day moving average price is $233.48. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) 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%. On average, analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 838 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. 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’s stock. According to MarketBeat.com, AppFolio has an average rating of “Hold” and a consensus price target of $276.29.

AppFolio Company 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.