LPL Financial LLC Has $1.10 Million Stake in AppFolio, Inc. (NASDAQ:APPF)

LPL Financial LLC lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,447 shares of the software maker’s stock after selling 3,265 shares during the period. LPL Financial LLC’s holdings in AppFolio were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after acquiring an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in AppFolio in the fourth quarter valued at approximately $50,000. EverSource Wealth Advisors LLC increased its position in shares of AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker’s stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after purchasing an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of AppFolio by 126.5% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after buying an additional 148 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexander Wolf purchased 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.24% of the company’s stock.

AppFolio Stock Up 0.4 %

APPF stock opened at $218.78 on Friday. The company’s 50-day moving average price is $217.92 and its two-hundred day moving average price is $231.23. The firm has a market cap of $7.96 billion, a P/E ratio of 39.42 and a beta of 0.86. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56.

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

Analysts Set New Price Targets

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

AppFolio 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.