AlphaQuest LLC Has $423,000 Position in AppFolio, Inc. (NASDAQ:APPF)

AlphaQuest LLC lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 36.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,716 shares of the software maker’s stock after selling 969 shares during the quarter. AlphaQuest LLC’s holdings in AppFolio were worth $423,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. lifted its position in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in AppFolio in the 4th quarter valued at $50,000. Jones Financial Companies Lllp boosted its stake in AppFolio by 60.4% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock valued at $61,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. grew its holdings in AppFolio by 126.5% in the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after buying an additional 148 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of AppFolio during the third quarter worth $79,000. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APPF shares. Stephens reaffirmed an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. Finally, KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $276.29.

AppFolio Trading Down 1.7 %

NASDAQ APPF opened at $206.66 on Friday. The firm’s 50 day simple moving average is $232.88 and its 200 day simple moving average is $233.32. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 37.24 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 EPS 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, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Activity

In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares in the company, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by corporate 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.