Envestnet Asset Management Inc. Decreases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Envestnet Asset Management Inc. lessened its stake in AppFolio, Inc. (NASDAQ:APPF) by 28.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,921 shares of the software maker’s stock after selling 8,463 shares during the period. Envestnet Asset Management Inc.’s holdings in AppFolio were worth $5,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after buying an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of AppFolio during the 4th quarter worth approximately $50,000. EverSource Wealth Advisors LLC lifted its position in AppFolio by 1,485.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock valued at $55,000 after acquiring an additional 208 shares during the last quarter. Jones Financial Companies Lllp boosted 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 valued at $61,000 after acquiring an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity

In other AppFolio news, Director Alexander Wolf bought 9,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson decreased their price objective on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One equities research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $272.71.

AppFolio Stock Performance

AppFolio stock opened at $220.29 on Wednesday. The business’s 50-day simple moving average is $217.95 and its two-hundred day simple moving average is $231.06. The company has a market cap of $8.02 billion, a PE ratio of 39.69 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.