Bank of Montreal Can Lowers Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Bank of Montreal Can trimmed its position in AppFolio, Inc. (NASDAQ:APPF) by 81.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,680 shares of the software maker’s stock after selling 16,519 shares during the quarter. Bank of Montreal Can’s holdings in AppFolio were worth $908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of AppFolio by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock worth $37,965,000 after buying an additional 5,077 shares in the last quarter. South Dakota Investment Council grew its position in shares of AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock valued at $864,000 after purchasing an additional 1,700 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of AppFolio in the fourth quarter worth about $1,392,000. Sei Investments Co. grew its holdings in AppFolio by 9.4% during the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock valued at $11,306,000 after buying an additional 3,935 shares in the last quarter. Finally, SYM FINANCIAL Corp purchased a new stake in shares of AppFolio during the 4th quarter worth approximately $292,000. Institutional investors own 85.19% of the company’s stock.

AppFolio Trading Up 0.4 %

Shares of APPF stock opened at $218.78 on Friday. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 39.42 and a beta of 0.86. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $217.92 and a two-hundred day simple moving average of $231.23.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. Research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares of the company’s stock, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now directly owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APPF shares. Stephens reaffirmed an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. DA Davidson dropped their price objective on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, April 14th. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $272.71.

About AppFolio

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.