US Bancorp DE Sells 1,271 Shares of AppFolio, Inc. (NASDAQ:APPF)

US Bancorp DE lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 84.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237 shares of the software maker’s stock after selling 1,271 shares during the quarter. US Bancorp DE’s holdings in AppFolio were worth $56,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the period. GAMMA Investing LLC lifted its stake in shares of AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. CWM LLC boosted its position in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. grew its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Trading Down 1.4 %

APPF opened at $230.02 on Monday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The firm has a 50 day moving average of $221.86 and a two-hundred day moving average of $231.16. The firm has a market capitalization of $8.36 billion, a PE ratio of 64.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 5,090 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,968 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $234.87, for a total value of $697,094.16. Following the transaction, the insider now directly owns 24,500 shares in the company, valued at $5,754,315. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,796 shares of company stock worth $4,177,209. 5.24% of the stock is owned by corporate insiders.

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.