AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 10.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,458 shares of the software maker’s stock after selling 668 shares during the quarter. Legato Capital Management LLC’s holdings in AppFolio were worth $1,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC raised its holdings in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares during the period. Deepwater Asset Management LLC purchased a new position in shares of AppFolio in the 4th quarter valued at $15,483,000. FMR LLC lifted its holdings in shares of AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after acquiring an additional 55,348 shares in the last quarter. Franklin Resources Inc. boosted its position in 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 purchasing an additional 54,386 shares during the period. Finally, State Street Corp increased 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. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Down 2.2 %

Shares of NASDAQ APPF opened at $213.64 on Thursday. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The business has a 50 day moving average price of $248.82 and a two-hundred day moving average price of $233.70. The firm has a market cap of $7.76 billion, a PE ratio of 38.49 and a beta of 0.88.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded 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 issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $276.29.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 2,510 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $229.21, for a total value of $575,317.10. Following the sale, the insider now owns 2,459 shares in the company, valued at approximately $563,627.39. This represents a 50.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the transaction, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,590 shares of company stock worth $4,544,279 in the last ninety days. 5.24% of the stock is owned by 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.