Burney Co. Has $1.89 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Burney Co. lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,608 shares of the software maker's stock after selling 1,647 shares during the period. Burney Co.'s holdings in AppFolio were worth $1,893,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock valued at $1,929,000 after acquiring an additional 3,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $420,000. Janney Montgomery Scott LLC acquired a new position in shares of AppFolio in the first quarter valued at $305,000. Oppenheimer Asset Management Inc. lifted its position in AppFolio by 34.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker's stock worth $1,110,000 after purchasing an additional 1,304 shares during the period. Finally, Portside Wealth Group LLC acquired a new stake in AppFolio during the first quarter worth $774,000. Institutional investors own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, Director Robert Donald Casey III acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the completion of the acquisition, the director directly owned 27,856 shares of the company's stock, valued at approximately $6,065,086.88. This represents a 16.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief executive officer directly owned 70,647 shares of the company's stock, valued at $14,938,308.15. This represents a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Trading Up 1.2%

Shares of APPF traded up $3.11 during mid-day trading on Friday, hitting $264.54. 219,657 shares of the company traded hands, compared to its average volume of 242,003. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 49.35 and a beta of 0.88. The business has a 50-day moving average of $229.60 and a 200 day moving average of $225.95. AppFolio, Inc. has a one year low of $189.01 and a one year high of $273.00.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APPF. Piper Sandler upped their target price on shares of AppFolio from $208.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $261.33.

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.