Millennium Management LLC Sells 4,578 Shares of AppFolio, Inc. (NASDAQ:APPF)

Millennium Management LLC decreased its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 46.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,346 shares of the software maker's stock after selling 4,578 shares during the period. Millennium Management LLC's holdings in AppFolio were worth $1,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APPF. FMR LLC increased its stake in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after purchasing an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in AppFolio during the fourth quarter worth $103,503,000. Norges Bank bought a new stake in AppFolio during the fourth quarter worth $68,037,000. AQR Capital Management LLC boosted its holdings in shares of AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of AppFolio by 227.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker's stock valued at $57,706,000 after purchasing an additional 162,540 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Up 0.7%

APPF stock traded up $1.45 during mid-day trading on Friday, reaching $217.25. The company's stock had a trading volume of 242,572 shares, compared to its average volume of 271,409. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The business's 50 day moving average price is $215.20 and its 200 day moving average price is $229.97. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 39.14 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same period last year, the business earned $1.05 EPS. The business's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APPF. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.43.

Insider Buying and Selling at AppFolio

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction on Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares of the company's stock, valued at approximately $1,586,828.88. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the company's 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 transaction, the chief executive officer now owns 70,647 shares in the company, valued at approximately $14,938,308.15. The trade was a 7.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.24% 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.