Cwm LLC Sells 9,799 Shares of AppFolio, Inc. (NASDAQ:APPF)

CWM LLC lowered its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 69.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,374 shares of the software maker's stock after selling 9,799 shares during the period. CWM LLC's holdings in AppFolio were worth $962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Treasurer of the State of North Carolina raised its holdings in shares of AppFolio by 0.6% during the fourth 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 buying an additional 60 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of AppFolio by 4.7% during the fourth quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after buying an additional 67 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of AppFolio by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock valued at $278,000 after buying an additional 81 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of AppFolio by 3.2% during the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker's stock valued at $598,000 after buying an additional 85 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Price Performance

Shares of AppFolio stock traded up $3.11 during trading on Friday, hitting $264.54. 219,657 shares of the company's stock traded hands, compared to its average volume of 242,003. The firm's fifty day moving average price is $229.60 and its 200 day moving average price is $225.95. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $273.00. The company has a market cap of $9.53 billion, a PE ratio of 49.35 and a beta of 0.88.

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 (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate 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. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred 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 owned 7,176 shares in the company, valued at $1,586,828.88. The trade was a 12.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy K. Bliss purchased 7,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $217.02 per share, with a total value of $1,627,650.00. Following the transaction, the director owned 7,500 shares in the company, valued at $1,627,650. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company's stock.

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.