Baird Financial Group Inc. Has $543,000 Holdings in AppFolio, Inc. (NASDAQ:APPF)

Baird Financial Group Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 98.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,202 shares of the software maker's stock after selling 153,844 shares during the period. Baird Financial Group Inc.'s holdings in AppFolio were worth $543,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its position in AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after buying an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in AppFolio in the 4th quarter valued at about $103,503,000. Norges Bank acquired a new stake in shares of AppFolio in the fourth quarter worth approximately $68,037,000. AQR Capital Management LLC grew its holdings in AppFolio by 43.2% in the fourth 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 period. Finally, Arrowstreet Capital Limited Partnership increased its position in AppFolio by 227.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock worth $57,706,000 after purchasing an additional 162,540 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of NASDAQ APPF traded down $3.70 during trading on Wednesday, reaching $209.77. The stock had a trading volume of 17,831 shares, compared to its average volume of 270,591. The stock has a market cap of $7.56 billion, a PE ratio of 37.80 and a beta of 0.99. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The firm's 50 day moving average price is $217.24 and its two-hundred day moving average price is $231.39.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its 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 business had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler reissued a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods decreased 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. Stephens reiterated an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.43.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer now directly owns 70,647 shares in the company, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,586,828.88. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by company insiders.

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.