T. Rowe Price Investment Management Inc. Sells 77,452 Shares of AppFolio, Inc. (NASDAQ:APPF)

T. Rowe Price Investment Management Inc. cut its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 89.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,672 shares of the software maker's stock after selling 77,452 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in AppFolio were worth $2,140,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker's stock worth $37,965,000 after purchasing an additional 5,077 shares in the last quarter. South Dakota Investment Council boosted its stake in AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker's stock worth $864,000 after acquiring an additional 1,700 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in AppFolio in the fourth quarter worth about $1,392,000. Sei Investments Co. increased its stake in shares of AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker's stock valued at $11,306,000 after purchasing an additional 3,935 shares in the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in AppFolio during the fourth quarter valued at $292,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APPF shares. William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson cut their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stephens reiterated an "overweight" rating and issued a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Finally, KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $274.43.

Insider Activity at AppFolio

In other news, Director Alexander Wolf bought 9,678 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the acquisition, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by insiders.

AppFolio Stock Up 0.1 %

APPF stock traded up $0.11 during trading on Thursday, reaching $206.63. The company's stock had a trading volume of 406,869 shares, compared to its average volume of 270,362. The company has a market capitalization of $7.52 billion, a P/E ratio of 37.23 and a beta of 0.86. The company's fifty day moving average is $217.43 and its 200-day moving average is $230.44. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (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 the consensus estimate of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current 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.