Eagle Asset Management Inc. Has $24.74 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Eagle Asset Management Inc. lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,422 shares of the software maker’s stock after selling 9,266 shares during the quarter. Eagle Asset Management Inc. owned about 0.30% of AppFolio worth $24,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in AppFolio by 200.8% in the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock valued at $356,000 after buying an additional 964 shares during the period. Vanguard Group Inc. boosted its stake in AppFolio by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in AppFolio by 11.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after acquiring an additional 4,131 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in AppFolio during the first quarter valued at approximately $207,000. Finally, Advisors Asset Management Inc. increased its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 1,059 shares of AppFolio stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total transaction of $242,616.90. Following the completion of the transaction, the insider now directly owns 9,388 shares of the company’s stock, valued at $2,150,790.80. The trade was a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the transaction, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,865 shares of company stock worth $5,799,618. Company insiders own 5.24% of the company’s stock.

AppFolio Stock Up 2.4 %

NASDAQ APPF opened at $242.39 on Friday. The company has a market capitalization of $8.81 billion, a PE ratio of 67.52 and a beta of 0.83. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The firm’s 50 day moving average is $222.54 and its 200-day moving average is $231.07.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. As a group, sell-side analysts expect that AppFolio, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APPF. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp dropped their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Piper Sandler decreased their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.75.

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.