AppFolio, Inc. (NASDAQ:APPF) Stock Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,607 shares of the software maker's stock after selling 7,250 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of AppFolio worth $15,307,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of APPF. Treasurer of the State of North Carolina increased its stake in shares of AppFolio by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after acquiring an additional 60 shares during the period. Fifth Third Bancorp lifted its holdings in shares of 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. Tidal Investments LLC lifted its holdings in shares of 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 in the last quarter. ProShare Advisors LLC increased its position in 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 during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of AppFolio by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 2,720 shares of the software maker's stock worth $598,000 after acquiring an additional 85 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

APPF traded up $3.11 during trading hours on Friday, reaching $264.54. 219,657 shares of the stock traded hands, compared to its average volume of 242,003. The firm's fifty day simple moving average is $229.60 and its two-hundred day simple moving average is $225.95. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 49.35 and a beta of 0.88. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $273.00.

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 analysts' consensus estimates of $1.23 by ($0.02). The firm had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. AppFolio's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. On average, research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In other AppFolio news, Director Timothy K. Bliss purchased 7,500 shares of AppFolio stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $217.02 per share, for a total transaction of $1,627,650.00. Following the transaction, the director owned 7,500 shares in the company, valued at $1,627,650. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

APPF has been the subject of several recent research reports. Piper Sandler increased their price objective 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. Keefe, Bruyette & Woods dropped their price objective 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. Finally, DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $261.33.

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.