Price T Rowe Associates Inc. MD Decreases Stake in AppFolio, Inc. (NASDAQ:APPF)

Price T Rowe Associates Inc. MD lowered its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 59.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,735 shares of the software maker's stock after selling 99,583 shares during the period. Price T Rowe Associates Inc. MD owned about 0.18% of AppFolio worth $16,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. raised its holdings in AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of AppFolio in the 4th quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd raised its holdings in shares of AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after purchasing an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 1.1 %

Shares of AppFolio stock traded up $2.28 during trading on Monday, reaching $214.34. The company's stock had a trading volume of 207,518 shares, compared to its average volume of 270,323. The company has a 50-day moving average price of $217.28 and a two-hundred day moving average price of $230.76. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm has a market cap of $7.72 billion, a PE ratio of 38.62 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The company's revenue for the quarter 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 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 value of $760,662.27. Following the completion of the sale, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander Wolf bought 9,678 shares of the company's stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares in the company, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler restated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a research note on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. DA Davidson lowered their price target on AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods dropped their price target 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, William Blair restated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.