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

Legato Capital Management LLC decreased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,458 shares of the software maker’s stock after selling 668 shares during the period. Legato Capital Management LLC’s holdings in AppFolio were worth $1,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the period. UMB Bank n.a. lifted its holdings in shares of 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 purchasing an additional 110 shares during the period. True Wealth Design LLC purchased a new position in AppFolio in the 3rd quarter valued at $79,000. Advisors Asset Management Inc. increased its stake 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 during the period. Finally, Salem Investment Counselors Inc. purchased a new position in AppFolio during the 4th quarter worth $123,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $213.64 on Thursday. The firm’s 50-day moving average is $248.82 and its two-hundred day moving average is $233.70. The company has a market capitalization of $7.76 billion, a PE ratio of 38.49 and a beta of 0.88. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results 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 net margin of 25.69% and a return on equity of 26.21%. On average, analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the transaction, the insider now owns 22,701 shares of the company’s stock, valued at $5,795,565.30. This represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction on 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 of the company’s stock, valued at approximately $19,401,944.24. This represents a 5.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,590 shares of company stock valued at $4,544,279 over the last quarter. Insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

APPF has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. Stephens reiterated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research report on Friday, January 31st. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a report on Friday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.