AppFolio, Inc. (NASDAQ:APPF) Shares Sold by City Center Advisors LLC

City Center Advisors LLC reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,139 shares of the software maker’s stock after selling 233 shares during the period. City Center Advisors LLC’s holdings in AppFolio were worth $250,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of AppFolio by 73.1% during the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker’s stock worth $64,000 after purchasing an additional 122 shares during the last quarter. Alpha Wealth Funds LLC acquired a new stake in shares of AppFolio during the 1st quarter worth about $880,000. Rhumbline Advisers boosted its stake in shares of AppFolio by 0.7% during the 1st quarter. Rhumbline Advisers now owns 64,229 shares of the software maker’s stock worth $14,124,000 after purchasing an additional 437 shares during the last quarter. Somerset Trust Co boosted its position in shares of AppFolio by 25.9% in the first quarter. Somerset Trust Co now owns 1,036 shares of the software maker’s stock worth $228,000 after acquiring an additional 213 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of AppFolio by 79.8% in the first quarter. Parallel Advisors LLC now owns 1,043 shares of the software maker’s stock worth $229,000 after acquiring an additional 463 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APPF. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. DA Davidson raised shares of AppFolio to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Piper Sandler reissued a “neutral” rating and issued 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 assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $274.43.

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the sale, the chief financial officer now owns 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the sale, the chief executive officer now owns 70,647 shares in the company, valued at $14,938,308.15. This represents a 7.71% decrease in their position. The disclosure for this sale can be found here. 4.68% of the stock is currently owned by corporate insiders.

AppFolio Stock Up 0.7%

Shares of APPF stock opened at $217.25 on Friday. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 39.14 and a beta of 0.87. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The firm’s 50 day moving average price is $215.10 and its two-hundred day moving average price is $229.89.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. On average, equities analysts forecast 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.