Wellington Management Group LLP Cuts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Wellington Management Group LLP reduced its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,838 shares of the software maker's stock after selling 6,291 shares during the quarter. Wellington Management Group LLP owned 0.25% of AppFolio worth $22,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Colonial Trust Co SC purchased a new position in AppFolio in the 4th quarter worth about $28,000. Arcadia Investment Management Corp MI purchased a new position in shares of AppFolio during the fourth quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd lifted its position in AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after purchasing an additional 206 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in 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 purchasing an additional 93 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the transaction, the chief financial officer now owns 7,176 shares of the company's stock, valued at $1,586,828.88. This represents a 12.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of the company'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 owns 70,647 shares in the company, valued at $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

AppFolio Price Performance

Shares of APPF stock traded up $8.34 during mid-day trading on Tuesday, hitting $218.15. The company had a trading volume of 218,346 shares, compared to its average volume of 271,726. The stock's 50 day moving average price is $215.49 and its 200-day moving average price is $230.23. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The company has a market capitalization of $7.86 billion, a P/E ratio of 39.31 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last posted 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 25.69% and a return on equity of 26.21%. The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the topic of several research analyst reports. Piper Sandler reissued a "neutral" rating and set a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods lowered their target price on 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 upgraded AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.43.

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.