Raymond James & Associates Sells 569 Shares of AppFolio, Inc. (NASDAQ:APPF)

Raymond James & Associates lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,910 shares of the software maker’s stock after selling 569 shares during the quarter. Raymond James & Associates’ holdings in AppFolio were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of APPF. Handelsinvest Investeringsforvaltning purchased a new stake in shares of AppFolio during the 4th quarter worth $240,000. Harbor Capital Advisors Inc. raised its holdings in AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock worth $639,000 after purchasing an additional 116 shares in the last quarter. Channel Wealth LLC purchased a new stake in shares of AppFolio during the fourth quarter valued at about $648,000. Vanguard Group Inc. boosted its holdings in shares of AppFolio by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after buying an additional 46,827 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of AppFolio in the 3rd quarter worth approximately $2,027,000. Institutional investors own 62.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the transaction, the director now owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the transaction, the director now directly owns 1,909 shares in the company, valued at $461,500.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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. In the last quarter, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by company insiders.

AppFolio Price Performance

NASDAQ APPF opened at $215.90 on Thursday. The stock’s fifty day moving average price is $230.24 and its 200 day moving average price is $204.53. AppFolio, Inc. has a 1 year low of $123.36 and a 1 year high of $253.42. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 7,196.67 and a beta of 0.80.

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