Vanguard Group Inc. Sells 57,098 Shares of AppFolio, Inc. (NASDAQ:APPF)

Vanguard Group Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,438,429 shares of the software maker’s stock after selling 57,098 shares during the quarter. Vanguard Group Inc. owned about 6.77% of AppFolio worth $536,211,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC bought a new position in AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp increased its holdings in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after buying an additional 62 shares during the period. Versant Capital Management Inc increased its holdings in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after buying an additional 199 shares during the period. Blue Trust Inc. increased its holdings in AppFolio by 330.2% in the 1st quarter. Blue Trust Inc. now owns 271 shares of the software maker’s stock valued at $60,000 after buying an additional 208 shares during the period. Finally, UMB Bank n.a. increased its holdings in AppFolio by 73.1% in the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker’s stock valued at $64,000 after buying an additional 122 shares during the period. 85.19% of the stock is owned by institutional investors.

AppFolio Trading Down 1.2%

APPF opened at $265.40 on Friday. The company’s 50 day moving average is $250.05 and its 200-day moving average is $229.08. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $326.04. The company has a market cap of $9.51 billion, a P/E ratio of 47.91 and a beta of 0.95.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. During the same period last year, the company earned $1.12 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. On average, equities analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 2,324 shares of AppFolio stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $276.80, for a total transaction of $643,283.20. Following the sale, the insider directly owned 35,376 shares in the company, valued at $9,792,076.80. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 18,500 shares of company stock worth $4,024,220 and have sold 38,006 shares worth $10,976,482. 4.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $350.00 price target on shares of AppFolio in a research note on Friday, August 1st. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and raised their price target for the company from $240.00 to $350.00 in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods upgraded shares of AppFolio from an “underperform” rating to a “market perform” rating and raised their price target for the company from $205.00 to $267.00 in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and a consensus price target of $303.00.

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.