Inspire Investing LLC Reduces Holdings in AppFolio, Inc. (NASDAQ:APPF)

Inspire Investing LLC decreased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 25.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,917 shares of the software maker’s stock after selling 996 shares during the period. Inspire Investing LLC’s holdings in AppFolio were worth $720,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Summit Global Investments purchased a new stake in shares of AppFolio during the third quarter worth about $759,000. JPMorgan Chase & Co. grew its stake in shares of AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock worth $37,965,000 after acquiring an additional 5,077 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of AppFolio by 183.3% during the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock worth $1,030,000 after acquiring an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in shares of AppFolio by 16.5% during the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after acquiring an additional 3,038 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 4.1 %

Shares of NASDAQ:APPF opened at $250.03 on Friday. AppFolio, Inc. has a 12-month low of $172.98 and a 12-month high of $274.56. The company has a market capitalization of $9.08 billion, a PE ratio of 69.65 and a beta of 0.87. The business has a 50 day moving average of $252.13 and a two-hundred day moving average of $235.95.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the previous year, the company posted $0.26 earnings per share. AppFolio’s revenue for the quarter was up 24.5% on a year-over-year basis. Equities research analysts predict that AppFolio, Inc. will post 3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of research reports. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler downgraded AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a report on Monday, January 6th. Finally, KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $268.57.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 4,145 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the transaction, the chief executive officer now directly owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This represents a 5.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,768 shares of company stock valued at $5,744,891. 5.24% of the stock is owned by company insiders.

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.