CANADA LIFE ASSURANCE Co Reduces Stake in AppFolio, Inc. (NASDAQ:APPF)

CANADA LIFE ASSURANCE Co decreased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,504 shares of the software maker's stock after selling 4,012 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of AppFolio worth $8,750,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in AppFolio by 3.3% in the 3rd 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. South Dakota Investment Council increased its position in AppFolio by 94.4% in the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after purchasing an additional 1,700 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in AppFolio during the fourth quarter valued at $1,392,000. Sei Investments Co. lifted its position in AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after purchasing an additional 3,935 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in shares of AppFolio in the 4th quarter worth $292,000. 85.19% of the stock is owned by institutional investors.

Insider Transactions at AppFolio

In related news, Director Alexander Wolf purchased 9,678 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the acquisition, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. The trade was a -150.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company's 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

Wall Street Analyst Weigh In

APPF has been the subject of a number of analyst reports. Stephens reaffirmed an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson cut their target price on AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. KeyCorp downgraded 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. Finally, Piper Sandler reiterated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AppFolio presently has a consensus rating of "Hold" and an average target price of $274.43.

AppFolio Trading Down 18.2 %

Shares of NASDAQ APPF traded down $42.63 during mid-day trading on Friday, reaching $192.02. The company had a trading volume of 1,561,884 shares, compared to its average volume of 267,347. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The business's 50-day moving average is $218.06 and its 200-day moving average is $230.97. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 34.60 and a beta of 0.86.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share 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.