Mission Wealth Management LP Cuts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Mission Wealth Management LP reduced its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,439 shares of the software maker's stock after selling 7,400 shares during the quarter. Mission Wealth Management LP owned approximately 0.15% of AppFolio worth $11,751,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC purchased a new position in shares of AppFolio during the fourth quarter valued at about $28,000. Fifth Third Bancorp lifted its position in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after buying an additional 62 shares during the period. Versant Capital Management Inc lifted its position in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after buying an additional 199 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of AppFolio during the 4th quarter valued at $50,000. Finally, Aster Capital Management DIFC Ltd grew its position in shares of AppFolio by 10,300.0% in 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 during the period. 85.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the sale, the chief financial officer now owns 7,176 shares of the company's stock, valued at approximately $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 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. In the last quarter, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Price Performance

AppFolio stock traded up $3.11 during midday trading on Thursday, reaching $223.73. 280,389 shares of the company traded hands, compared to its average volume of 276,205. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The business has a 50 day moving average of $215.94 and a two-hundred day moving average of $228.65. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 41.74 and a beta of 0.87.

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

AppFolio 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.