AppFolio, Inc. (NASDAQ:APPF) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC cut its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 181,649 shares of the software maker's stock after selling 6,982 shares during the quarter. GW&K Investment Management LLC owned about 0.50% of AppFolio worth $39,944,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of APPF. Vanguard Group Inc. increased its stake in shares of AppFolio by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock worth $615,696,000 after acquiring an additional 91,174 shares during the period. AQR Capital Management LLC grew its position in AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after buying an additional 197,700 shares during the period. FMR LLC grew its position in 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 buying an additional 536,591 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock valued at $141,350,000 after purchasing an additional 25,566 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of AppFolio in the fourth quarter valued at about $103,503,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on APPF shares. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a report on Tuesday. Piper Sandler raised their target price on shares of AppFolio from $208.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, 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 research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $261.33.

Insiders Place Their Bets

In other AppFolio news, Director Timothy K. Bliss bought 7,500 shares of the business's stock in a transaction dated 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 owned 7,500 shares in the company, valued at approximately $1,627,650. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the completion of the transaction, the insider directly owned 17,926 shares in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In 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. 4.68% of the stock is currently owned by insiders.

AppFolio Price Performance

NASDAQ:APPF traded up $1.18 during trading hours on Thursday, reaching $262.70. 156,226 shares of the company were exchanged, compared to its average volume of 300,672. The stock has a 50 day simple moving average of $226.71 and a 200 day simple moving average of $225.53. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $273.00. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 49.01 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 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 business had revenue of $217.70 million during the quarter, compared to analysts' expectations of $220.95 million. During the same period in the prior year, the business posted $1.05 EPS. The business's revenue was up 15.9% on a year-over-year basis. On average, analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.