Ameriprise Financial Inc. Has $12.51 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Ameriprise Financial Inc. decreased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,712 shares of the software maker's stock after selling 7,662 shares during the period. Ameriprise Financial Inc. owned approximately 0.14% of AppFolio worth $12,512,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of AppFolio by 6.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after buying an additional 40 shares during the last quarter. Independent Advisor Alliance raised its holdings in AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after acquiring an additional 53 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of AppFolio by 11.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock worth $152,000 after acquiring an additional 65 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of AppFolio by 60.4% during the 4th 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. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APPF has been the subject of several research reports. DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. William Blair reiterated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped 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. Finally, Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppFolio has an average rating of "Moderate Buy" and an average target price of $274.43.

AppFolio Price Performance

Shares of NASDAQ:APPF traded up $1.51 during trading on Friday, reaching $209.83. The stock had a trading volume of 180,159 shares, compared to its average volume of 272,106. The stock has a market capitalization of $7.56 billion, a PE ratio of 37.81 and a beta of 0.99. 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 price is $216.82 and its 200 day moving average price is $231.17.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share 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 for the quarter, compared to analyst estimates of $220.95 million. During the same period in the prior year, the business earned $1.05 earnings per share. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction on Friday, May 16th. The shares were 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. The trade was a 12.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

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.