Burney Co. Sells 6,851 Shares of AppFolio, Inc. $APPF

Key Points

• Burney Co. cut its stake in AppFolio by 85.7%, selling 6,851 shares in Q4 and now holds 1,146 shares worth about $267,000.
• CEO William Shane Trigg sold 6,963 shares at an average of $169.73 (≈$1.18M), reducing his ownership by 11.63%; insiders own 4.68% of the stock while institutions own 85.19%.
• AppFolio beat Q4 expectations with EPS of $1.39 (vs. $1.22) and revenue of $248.2M (up 21.7% YoY); the company has a $5.57B market cap and an average analyst rating of Buy with a $263.86 price target.

Burney Co. decreased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 85.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,146 shares of the software maker's stock after selling 6,851 shares during the period. Burney Co.'s holdings in AppFolio were worth $267,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of AppFolio in the 3rd quarter valued at about $8,275,000. Nordea Investment Management AB bought a new position in shares of AppFolio in the 4th quarter valued at about $8,795,000. Citigroup Inc. grew its holdings in shares of AppFolio by 140.3% in the 3rd quarter. Citigroup Inc. now owns 15,641 shares of the software maker's stock valued at $4,312,000 after acquiring an additional 9,132 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of AppFolio in the 3rd quarter valued at about $1,435,000. Finally, Vanguard Group Inc. grew its holdings in shares of AppFolio by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,458,994 shares of the software maker's stock valued at $677,846,000 after acquiring an additional 55,277 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

AppFolio stock opened at $154.86 on Thursday. AppFolio, Inc. has a 52 week low of $142.73 and a 52 week high of $326.04. The stock has a market capitalization of $5.57 billion, a P/E ratio of 39.91 and a beta of 0.84. The stock has a 50-day simple moving average of $169.27 and a 200 day simple moving average of $210.51.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.17. The firm had revenue of $248.19 million during the quarter, compared to the consensus estimate of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Research analysts forecast 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. JPMorgan Chase & Co. reduced their price target on AppFolio from $330.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, January 30th. KeyCorp reiterated an "overweight" rating on shares of AppFolio in a report on Monday, February 2nd. Benchmark initiated coverage on AppFolio in a report on Thursday, March 26th. They set a "buy" rating and a $222.00 price target for the company. DA Davidson reduced their price target on AppFolio from $325.00 to $275.00 and set a "buy" rating for the company in a report on Friday, January 30th. Finally, UBS Group set a $260.00 price target on AppFolio and gave the stock a "buy" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $263.86.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the sale, the chief executive officer directly owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.68% of the stock is owned by company insiders.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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