Ameriprise Financial Inc. Sells 7,662 Shares of AppFolio, Inc. (NASDAQ:APPF)

Ameriprise Financial Inc. trimmed its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 50,712 shares of the software maker's stock after selling 7,662 shares during the period. Ameriprise Financial Inc. owned about 0.14% of AppFolio worth $12,512,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APPF. Exchange Traded Concepts LLC boosted its stake in shares of AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock worth $158,000 after buying an additional 40 shares during the last quarter. Independent Advisor Alliance boosted its position in AppFolio by 2.1% in the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after purchasing an additional 53 shares during the last quarter. Treasurer of the State of North Carolina grew its stake 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 purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC grew its stake in AppFolio by 11.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after purchasing an additional 65 shares during the period. Finally, Jones Financial Companies Lllp increased its position 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 valued at $61,000 after purchasing an additional 93 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APPF has been the topic of a number of research analyst reports. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Stephens restated an "overweight" rating and set a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Finally, William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AppFolio presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.43.

AppFolio Trading Up 3.1%

AppFolio stock opened at $218.91 on Monday. The firm has a 50 day simple moving average of $217.02 and a 200 day simple moving average of $231.47. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 39.44 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. On average, equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio Profile

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.

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