Ameriprise Financial Inc. Sells 7,662 Shares of AppFolio, Inc. (NASDAQ:APPF)

Ameriprise Financial Inc. trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF) by 13.1% in the fourth quarter, HoldingsChannel reports. The fund owned 50,712 shares of the software maker’s stock after selling 7,662 shares during the period. Ameriprise Financial Inc.’s holdings in AppFolio were worth $12,512,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. South Dakota Investment Council raised its position in AppFolio by 94.4% in the 4th quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after purchasing an additional 1,700 shares during the period. Bryce Point Capital LLC bought a new position in shares of AppFolio during the fourth quarter valued at about $1,392,000. Hsbc Holdings PLC purchased a new position in shares of AppFolio in the fourth quarter worth about $557,000. Sei Investments Co. increased its holdings in shares of AppFolio by 9.4% in the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock worth $11,306,000 after buying an additional 3,935 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in shares of AppFolio in the 4th quarter valued at about $292,000. 85.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson upgraded AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Stephens reissued an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler restated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a report on Friday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $274.43.

AppFolio Stock Performance

AppFolio stock opened at $218.91 on Monday. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The stock’s 50 day simple moving average is $217.02 and its two-hundred day simple moving average is $231.47. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 39.44 and a beta of 0.99.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction 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 in the company, valued at approximately $18,212,440.48. This trade represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.24% of the company’s stock.

AppFolio 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.