Pacer Advisors Inc. Cuts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Pacer Advisors Inc. cut its holdings in AppFolio, Inc. (NASDAQ:APPF) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,334 shares of the software maker’s stock after selling 83 shares during the quarter. Pacer Advisors Inc.’s holdings in AppFolio were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in APPF. KBC Group NV increased its position in shares of AppFolio by 65.5% in the 4th quarter. KBC Group NV now owns 1,023 shares of the software maker’s stock valued at $252,000 after acquiring an additional 405 shares during the period. Blue Trust Inc. increased its holdings in shares of AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock valued at $62,000 after purchasing an additional 148 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of AppFolio by 21.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 1,293 shares of the software maker’s stock worth $319,000 after purchasing an additional 228 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of AppFolio by 6.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after purchasing an additional 40 shares during the period. Finally, SG Americas Securities LLC boosted its position in AppFolio by 385.7% in the fourth quarter. SG Americas Securities LLC now owns 7,145 shares of the software maker’s stock valued at $1,763,000 after buying an additional 5,674 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Performance

APPF opened at $238.50 on Tuesday. The stock has a market capitalization of $8.66 billion, a PE ratio of 42.97 and a beta of 0.88. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The business’s 50 day moving average price is $253.57 and its 200 day moving average price is $235.22.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share (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%. As a group, equities research analysts forecast that AppFolio, Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Maurice J. Duca sold 2,510 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $229.21, for a total value of $575,317.10. Following the sale, the insider now directly owns 2,459 shares in the company, valued at approximately $563,627.39. This trade represents a 50.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,606 shares of company stock valued at $5,958,832. Company insiders own 5.24% of the company’s stock.

Analysts Set New Price Targets

APPF has been the subject of a number of recent research reports. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Piper Sandler reissued a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Friday. Stephens reaffirmed an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a report on Friday. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $276.29.

About AppFolio

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.