Envestnet Asset Management Inc. Decreases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Envestnet Asset Management Inc. reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 28.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,921 shares of the software maker’s stock after selling 8,463 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of AppFolio worth $5,162,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.

AppFolio Trading Up 4.9 %

NASDAQ:APPF opened at $220.29 on Wednesday. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 39.69 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 $217.95 and a 200-day simple moving average of $231.06.

AppFolio (NASDAQ:APPF) last announced 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 net margin of 25.69% and a return on equity of 26.21%. As a group, equities research analysts predict that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.