Federated Hermes Inc. Has $12.69 Million Holdings in AppFolio, Inc. (NASDAQ:APPF)

Federated Hermes Inc. cut its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,228 shares of the software maker’s stock after selling 963 shares during the period. Federated Hermes Inc.’s holdings in AppFolio were worth $12,686,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Arcadia Investment Management Corp MI grew its stake in shares of AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of AppFolio during the fourth quarter worth $85,000. First Foundation Advisors acquired a new stake in shares of AppFolio during the third quarter worth $209,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of AppFolio during the fourth quarter worth $240,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of AppFolio during the third quarter worth $260,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,489 shares of company stock worth $3,531,011 over the last three months. Corporate insiders own 9.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on APPF shares. JPMorgan Chase & Co. lifted their price objective on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. KeyCorp lifted their target price on AppFolio from $254.00 to $264.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. BTIG Research initiated coverage on AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.40.

AppFolio Price Performance

Shares of AppFolio stock opened at $219.33 on Wednesday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 7,313.44 and a beta of 0.80. The stock’s 50-day moving average is $230.24 and its 200-day moving average is $204.53. AppFolio, Inc. has a one year low of $123.36 and a one year high of $253.42.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. On average, equities analysts expect that AppFolio, Inc. will post 2.66 EPS 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.