Baird Financial Group Inc. Sells 153,844 Shares of AppFolio, Inc. (NASDAQ:APPF)

Baird Financial Group Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 98.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,202 shares of the software maker’s stock after selling 153,844 shares during the quarter. Baird Financial Group Inc.’s holdings in AppFolio were worth $543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of APPF. FMR LLC boosted its stake in shares of AppFolio by 881.2% in the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock valued at $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of AppFolio in the 4th quarter valued at $103,503,000. Norges Bank bought a new stake in shares of AppFolio in the 4th quarter valued at $68,037,000. AQR Capital Management LLC boosted its stake in shares of AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AppFolio by 227.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock valued at $57,706,000 after purchasing an additional 162,540 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Trading Up 0.1%

APPF opened at $212.43 on Friday. The company’s fifty day moving average price is $216.93 and its two-hundred day moving average price is $231.20. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 38.28 and a beta of 0.99.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share 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 for the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.24% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of analyst reports. DA Davidson raised shares of AppFolio to a “strong-buy” rating in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Stephens reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Keefe, Bruyette & Woods cut their target price on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and a consensus price target of $274.43.

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.