AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,439 shares of the software maker’s stock after selling 7,400 shares during the period. Mission Wealth Management LP’s holdings in AppFolio were worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. South Dakota Investment Council raised its position in AppFolio by 94.4% in the 4th 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 acquired a new stake in shares of AppFolio during the 4th quarter worth about $1,392,000. Hsbc Holdings PLC acquired a new stake in shares of AppFolio during the 4th quarter worth about $557,000. Sei Investments Co. raised its position in shares of AppFolio by 9.4% during the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock worth $11,306,000 after acquiring an additional 3,935 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new stake in shares of AppFolio during the 1st quarter worth about $774,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Buying and Selling

In other AppFolio news, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the transaction, the insider now directly owns 17,926 shares in the company, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss bought 7,000 shares of the stock in a transaction on Monday, June 9th. The stock was bought at an average price of $217.95 per share, for a total transaction of $1,525,650.00. Following the completion of the purchase, the director now directly owns 22,000 shares in the company, valued at approximately $4,794,900. The trade was a 46.67% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. 4.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson raised AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods cut their target price on AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.43.

AppFolio Stock Down 0.6%

NASDAQ:APPF opened at $225.57 on Monday. The stock’s 50 day moving average price is $215.81 and its 200 day moving average price is $228.92. The company has a market capitalization of $8.13 billion, a PE ratio of 40.64 and a beta of 0.87. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts anticipate 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.