Inspire Investing LLC Reduces Holdings in AppFolio, Inc. (NASDAQ:APPF)

Inspire Investing LLC trimmed its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 25.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,917 shares of the software maker’s stock after selling 996 shares during the quarter. Inspire Investing LLC’s holdings in AppFolio were worth $720,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Summit Global Investments purchased a new stake in shares of AppFolio during the third quarter worth approximately $759,000. JPMorgan Chase & Co. grew its holdings in AppFolio by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after buying an additional 5,077 shares in the last quarter. Captrust Financial Advisors grew its holdings in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares in the last quarter. Baker Avenue Asset Management LP grew its holdings in AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after buying an additional 3,038 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after buying an additional 141 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Trading Down 4.1 %

NASDAQ APPF opened at $250.03 on Friday. The stock has a market cap of $9.08 billion, a PE ratio of 69.65 and a beta of 0.87. AppFolio, Inc. has a twelve month low of $172.98 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $252.13 and a 200-day simple moving average of $235.95.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the prior year, the company earned $0.26 EPS. AppFolio’s revenue was up 24.5% on a year-over-year basis. Research analysts predict that AppFolio, Inc. will post 3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a report on Friday, January 10th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $268.57.

Insider Buying and Selling

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the sale, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 4,145 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This represents a 5.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,768 shares of company stock valued at $5,744,891. Corporate insiders own 5.24% of the company’s stock.

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.