AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,109 shares of the software maker's stock after selling 6,846 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AppFolio were worth $904,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in APPF. Colonial Trust Co SC acquired a new stake in shares of AppFolio in the fourth quarter valued at about $28,000. Fifth Third Bancorp lifted its stake in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after buying an additional 199 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after buying an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after buying an additional 208 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the transaction, the chief financial officer directly owned 7,176 shares in the company, valued at approximately $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Donald Casey III bought 4,000 shares of AppFolio stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director directly owned 27,856 shares of the company's stock, valued at approximately $6,065,086.88. This trade represents a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DA Davidson raised AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Piper Sandler reissued a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

AppFolio Stock Performance

Shares of AppFolio stock opened at $232.65 on Thursday. The business's 50 day moving average price is $217.55 and its 200 day moving average price is $226.41. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 43.40 and a beta of 0.88. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

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

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.

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