Oak Thistle LLC Sells 862 Shares of AppFolio, Inc. (NASDAQ:APPF)

Oak Thistle LLC decreased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,882 shares of the software maker’s stock after selling 862 shares during the quarter. Oak Thistle LLC’s holdings in AppFolio were worth $464,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after buying an additional 186 shares during the last quarter. Quarry LP lifted its stake in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after buying an additional 142 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of AppFolio during the third quarter valued at approximately $79,000. Finally, Advisors Asset Management Inc. increased its position in shares of 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 acquiring an additional 141 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,768 shares of company stock valued at $5,744,891. 5.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on APPF shares. Piper Sandler downgraded AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research note on Monday, January 6th. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $261.88.

AppFolio Stock Down 0.1 %

NASDAQ APPF opened at $252.28 on Friday. The company has a 50-day moving average price of $248.90 and a 200-day moving average price of $235.58. AppFolio, Inc. has a 52 week low of $171.19 and a 52 week high of $274.56. The firm has a market capitalization of $9.17 billion, a P/E ratio of 70.27 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current 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.