Exchange Traded Concepts LLC Sells 178 Shares of AppFolio, Inc. (NASDAQ:APPF)

Exchange Traded Concepts LLC cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 27.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 464 shares of the software maker’s stock after selling 178 shares during the period. Exchange Traded Concepts LLC’s holdings in AppFolio were worth $102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APPF. Colonial Trust Co SC bought a new stake in AppFolio during the fourth quarter worth $28,000. Fifth Third Bancorp lifted its stake in AppFolio by 53.0% during the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc lifted its stake in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock worth $45,000 after purchasing an additional 199 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in AppFolio by 10,300.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker’s stock worth $51,000 after purchasing an additional 206 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in AppFolio by 1,485.7% during the fourth 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. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Up 1.8%

Shares of NASDAQ:APPF opened at $232.58 on Wednesday. The firm has a market cap of $8.38 billion, a P/E ratio of 43.39 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The business has a fifty day simple moving average of $216.17 and a 200 day simple moving average of $227.39.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. As a group, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the completion of the sale, the chief executive officer now directly owns 70,647 shares in the company, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Mathias Eaton sold 1,057 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer now owns 7,176 shares of the company’s stock, valued at approximately $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. 4.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. DA Davidson upgraded AppFolio to a “strong-buy” rating in a research note on Tuesday, May 13th. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods dropped their price target on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.43.

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.