AppFolio, Inc. (NASDAQ:APPF) Position Trimmed by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 65.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,483 shares of the software maker's stock after selling 2,780 shares during the period. Pallas Capital Advisors LLC's holdings in AppFolio were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APPF. Independent Advisor Alliance lifted its position in AppFolio by 2.1% during the fourth quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after buying an additional 53 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in AppFolio by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after purchasing an additional 60 shares in the last quarter. Tidal Investments LLC raised its position in 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 purchasing an additional 67 shares during the period. ProShare Advisors LLC lifted 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 purchasing an additional 81 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after buying an additional 93 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of APPF stock traded down $1.45 during trading hours on Friday, hitting $225.57. 401,237 shares of the company were exchanged, compared to its average volume of 274,716. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 40.64 and a beta of 0.87. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The business's 50-day simple moving average is $215.46 and its two-hundred day simple moving average is $229.48.

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 the consensus estimate 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 26.21% and a net margin of 25.69%. AppFolio's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APPF has been the topic of several analyst reports. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price objective 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, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and a consensus target price of $274.43.

Insider Buying and Selling at AppFolio

In other news, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the transaction, the insider now directly owns 17,926 shares of the company's stock, valued at approximately $4,083,363.54. The trade was a 20.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction 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 represents a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by insiders.

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.