AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Ashe Capital Management LP

Ashe Capital Management LP decreased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,089,919 shares of the software maker's stock after selling 307,389 shares during the period. AppFolio accounts for 22.1% of Ashe Capital Management LP's portfolio, making the stock its largest position. Ashe Capital Management LP owned approximately 3.00% of AppFolio worth $268,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in APPF. Stifel Financial Corp boosted its position in shares of AppFolio by 45.0% during the 3rd quarter. Stifel Financial Corp now owns 1,853 shares of the software maker's stock valued at $436,000 after purchasing an additional 575 shares in the last quarter. Barclays PLC boosted its position in shares of AppFolio by 20.5% during the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker's stock valued at $2,327,000 after purchasing an additional 1,681 shares in the last quarter. Franklin Resources Inc. lifted its stake in AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after buying an additional 54,386 shares in the last quarter. Retirement Systems of Alabama lifted its stake in AppFolio by 7.9% during the third quarter. Retirement Systems of Alabama now owns 27,950 shares of the software maker's stock valued at $6,579,000 after buying an additional 2,047 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock valued at $108,116,000 after buying an additional 207,204 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. KeyCorp lowered shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. DA Davidson reduced their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $274.43.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now 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. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares of the company's stock, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company's stock.

AppFolio Stock Performance

NASDAQ APPF traded down $1.43 during trading hours on Thursday, hitting $205.09. 200,248 shares of the company traded hands, compared to its average volume of 269,579. The business's 50-day moving average is $217.43 and its 200-day moving average is $230.44. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 36.91 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data 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 business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Analysts predict that AppFolio, Inc. will post 3.96 EPS for the current 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.