Raymond James & Associates Sells 569 Shares of AppFolio, Inc. (NASDAQ:APPF)

Raymond James & Associates lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,910 shares of the software maker’s stock after selling 569 shares during the quarter. Raymond James & Associates’ holdings in AppFolio were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APPF. Vanguard Group Inc. raised its holdings in AppFolio by 2.4% during the third quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock worth $365,575,000 after buying an additional 46,827 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in AppFolio in the 3rd quarter valued at about $33,062,000. Jump Financial LLC acquired a new position in AppFolio during the 3rd quarter valued at about $1,005,000. Northern Trust Corp increased its holdings in AppFolio by 1.1% during the 3rd quarter. Northern Trust Corp now owns 202,348 shares of the software maker’s stock worth $36,955,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of AppFolio by 175.1% in the third quarter. Victory Capital Management Inc. now owns 5,541 shares of the software maker’s stock worth $1,012,000 after purchasing an additional 3,527 shares during the last quarter. 62.34% of the stock is owned by institutional investors.

AppFolio Price Performance

APPF stock opened at $215.90 on Thursday. The firm has a 50 day simple moving average of $230.24 and a two-hundred day simple moving average of $204.53. The stock has a market cap of $7.74 billion, a PE ratio of 7,196.67 and a beta of 0.80. AppFolio, Inc. has a one year low of $123.36 and a one year high of $253.42.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. The business had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. On average, research analysts expect that AppFolio, Inc. will post 2.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on APPF. Stephens reiterated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, January 26th. BTIG Research began coverage on shares of AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, KeyCorp increased their price objective on shares of AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.40.

Insider Buying and Selling at AppFolio

In other news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now owns 51,070 shares in the company, valued at $11,605,146.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by company insiders.

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.