Jupiter Asset Management Ltd. Decreases Stake in AppFolio, Inc. (NASDAQ:APPF)

Jupiter Asset Management Ltd. lowered its position in AppFolio, Inc. (NASDAQ:APPF) by 22.1% during the fourth quarter, HoldingsChannel reports. The firm owned 59,100 shares of the software maker’s stock after selling 16,809 shares during the period. Jupiter Asset Management Ltd.’s holdings in AppFolio were worth $14,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after purchasing an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of AppFolio by 82.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares during the period. Geode Capital Management LLC raised its holdings in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after acquiring an additional 32,743 shares during the period. DF Dent & Co. Inc. raised its holdings in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after acquiring an additional 32,181 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of AppFolio by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock worth $51,800,000 after acquiring an additional 54,386 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

NASDAQ APPF opened at $210.25 on Thursday. The company has a market cap of $7.65 billion, a P/E ratio of 37.88 and a beta of 0.89. The stock has a 50-day moving average of $232.88 and a two-hundred day moving average of $233.32. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56.

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 net margin of 25.69% and a return on equity of 26.21%. On average, analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

APPF has been the topic of several analyst reports. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, Stephens reissued an “overweight” rating and set a $295.00 price objective 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 issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $276.29.

Insider Buying and Selling at AppFolio

In other news, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares in the company, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.

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.