Corebridge Financial Inc. Cuts Holdings in AppFolio, Inc. (NASDAQ:APPF)

Corebridge Financial Inc. lowered its position in AppFolio, Inc. (NASDAQ:APPF) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,374 shares of the software maker’s stock after selling 1,098 shares during the quarter. Corebridge Financial Inc. owned 0.07% of AppFolio worth $6,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after purchasing an additional 5,077 shares in the last quarter. Captrust Financial Advisors lifted its position in AppFolio by 183.3% during the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares in the last quarter. Advisors Asset Management Inc. lifted its position in AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after buying an additional 141 shares in the last quarter. South Dakota Investment Council grew its stake in AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after buying an additional 1,700 shares during the period. Finally, SYM FINANCIAL Corp acquired a new stake in shares of AppFolio in the fourth quarter worth $292,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a report on Friday, January 10th. Stephens restated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio has a consensus rating of “Hold” and a consensus price target of $276.29.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This represents 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 Stock Performance

Shares of APPF opened at $221.30 on Friday. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The stock has a 50-day moving average price of $225.38 and a 200 day moving average price of $232.40. The company has a market capitalization of $8.06 billion, a P/E ratio of 39.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.