Mackenzie Financial Corp Reduces Stake in AppFolio, Inc. (NASDAQ:APPF)

Mackenzie Financial Corp lessened its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 86.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,386 shares of the software maker’s stock after selling 8,539 shares during the quarter. Mackenzie Financial Corp’s holdings in AppFolio were worth $240,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of AppFolio by 497.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after purchasing an additional 36,265 shares during the last quarter. WCM Investment Management LLC purchased a new stake in AppFolio during the fourth quarter valued at approximately $12,941,000. Long Walk Management LP raised its position in AppFolio by 62.7% in the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after acquiring an additional 47,000 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of AppFolio by 103.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock worth $6,043,000 after acquiring an additional 17,706 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of AppFolio by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after acquiring an additional 46,827 shares during the period. Institutional investors own 62.34% of the company’s stock.

Insider Activity

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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 of the company’s stock, valued at $1,234,525.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock worth $3,531,011 over the last 90 days. Corporate insiders own 9.15% of the company’s stock.

AppFolio Price Performance

Shares of APPF opened at $242.75 on Monday. The firm has a market cap of $8.71 billion, a P/E ratio of 117.27 and a beta of 0.80. AppFolio, Inc. has a 1 year low of $123.36 and a 1 year high of $256.73. The company has a 50 day simple moving average of $229.59 and a two-hundred day simple moving average of $205.22.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. On average, sell-side analysts anticipate that AppFolio, Inc. will post 2.72 earnings per share for the current year.

Analyst Ratings Changes

APPF has been the topic of a number of recent research reports. Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday. KeyCorp lifted their price objective on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, BTIG Research initiated coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.00.

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.