AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC trimmed its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277 shares of the software maker’s stock after selling 172 shares during the quarter. Mutual Advisors LLC’s holdings in AppFolio were worth $281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in AppFolio during the 1st quarter worth $420,000. Oppenheimer Asset Management Inc. boosted its position in shares of AppFolio by 34.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker’s stock worth $1,110,000 after acquiring an additional 1,304 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of AppFolio during the 1st quarter worth about $305,000. Portside Wealth Group LLC acquired a new position in shares of AppFolio during the 1st quarter worth about $774,000. Finally, Rhumbline Advisers boosted its position in shares of AppFolio by 0.7% during the 1st quarter. Rhumbline Advisers now owns 64,229 shares of the software maker’s stock worth $14,124,000 after acquiring an additional 437 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on APPF shares. Keefe, Bruyette & Woods lowered their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. DA Davidson raised AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.43.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 5,900 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer directly owned 70,647 shares of the company’s stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy K. Bliss acquired 7,000 shares of AppFolio stock in a transaction that occurred on Monday, June 9th. The shares were purchased at an average cost of $217.95 per share, with a total value of $1,525,650.00. Following the completion of the acquisition, the director owned 22,000 shares of the company’s stock, valued at $4,794,900. The trade was a 46.67% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by corporate insiders.

AppFolio Stock Up 0.9%

NASDAQ:APPF opened at $243.03 on Wednesday. The stock’s 50 day moving average price is $220.01 and its 200 day moving average price is $225.72. The company has a market capitalization of $8.76 billion, a PE ratio of 45.34 and a beta of 0.88. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts anticipate 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.