Edgestream Partners L.P. Sells 2,315 Shares of AppFolio, Inc. (NASDAQ:APPF)

Edgestream Partners L.P. reduced its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 14.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,181 shares of the software maker's stock after selling 2,315 shares during the period. Edgestream Partners L.P.'s holdings in AppFolio were worth $3,118,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of APPF. Colonial Trust Co SC bought a new stake in AppFolio in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp grew its position 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 in the last quarter. Versant Capital Management Inc grew its position in AppFolio by 4,975.0% in the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after purchasing an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake in AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after acquiring an additional 206 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after acquiring an additional 208 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer owned 70,647 shares in the company, valued at $14,938,308.15. The trade was a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy K. Bliss purchased 7,500 shares of the firm's stock in a transaction on 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 purchase, the director directly owned 7,500 shares in the company, valued at $1,627,650. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. 4.68% of the stock is currently owned by insiders.

AppFolio Trading Down 1.2%

NASDAQ:APPF traded down $3.02 during mid-day trading on Friday, hitting $250.95. 180,701 shares of the company's stock were exchanged, compared to its average volume of 267,761. The company has a 50 day simple moving average of $224.58 and a 200-day simple moving average of $225.60. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm has a market capitalization of $9.04 billion, a P/E ratio of 46.82 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued 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). The firm 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 for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. As a group, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APPF shares. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler lifted their price target on shares of AppFolio from $208.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and a consensus price target of $261.33.

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.