Burney Co. Decreases Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Burney Co. lessened its holdings in AppFolio, Inc. (NASDAQ:APPF) by 73.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,255 shares of the software maker’s stock after selling 27,950 shares during the period. Burney Co.’s holdings in AppFolio were worth $2,530,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC increased its holdings in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after buying an additional 120,835 shares during the period. FMR LLC grew its stake in shares of AppFolio by 998.0% in the third quarter. FMR LLC now owns 60,894 shares of the software maker’s stock valued at $14,334,000 after buying an additional 55,348 shares in the last quarter. 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 valued at $51,800,000 after buying an additional 54,386 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in AppFolio during the 2nd quarter worth approximately $12,993,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scanlan Agnes Bundy sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total transaction of $127,710.00. Following the sale, the director now owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. The trade was a 8.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock valued at $5,744,891 over the last three months. 5.24% of the stock is owned by insiders.

AppFolio Trading Up 2.4 %

Shares of NASDAQ:APPF opened at $252.49 on Thursday. The firm has a market cap of $9.17 billion, a PE ratio of 70.33 and a beta of 0.87. The company has a fifty day simple moving average of $248.41 and a 200 day simple moving average of $235.46. AppFolio, Inc. has a 12-month low of $171.19 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AppFolio has an average rating of “Hold” and an average target price of $261.88.

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.