AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Bosman Wealth Management LLC

Bosman Wealth Management LLC cut its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 72.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,477 shares of the software maker's stock after selling 6,641 shares during the period. Bosman Wealth Management LLC's holdings in AppFolio were worth $545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independent Advisor Alliance increased its holdings in shares of AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after acquiring an additional 53 shares during the period. Treasurer of the State of North Carolina grew its position in AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after purchasing an additional 60 shares during the last quarter. Fifth Third Bancorp increased its stake in AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares during the period. Tidal Investments LLC raised its holdings in shares of AppFolio by 4.7% in 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. Finally, ProShare Advisors LLC boosted its stake 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 worth $278,000 after buying an additional 81 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 7,176 shares in the company, valued at $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $211.45, for a total value of $1,247,555.00. Following the sale, the chief executive officer owned 70,647 shares in the company, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Stock Down 3.1%

Shares of AppFolio stock traded down $7.68 during trading on Friday, reaching $237.68. The company's stock had a trading volume of 250,792 shares, compared to its average volume of 268,843. The business has a 50 day moving average price of $222.09 and a 200-day moving average price of $225.74. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The company has a market capitalization of $8.56 billion, a P/E ratio of 44.34 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 analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The company had revenue of $217.70 million during the quarter, compared to analysts' expectations of $220.95 million. During the same quarter in the prior year, the business earned $1.05 EPS. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on APPF. Keefe, Bruyette & Woods dropped their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. 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. Finally, DA Davidson upgraded AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and a consensus price target of $274.43.

AppFolio Company 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.