823 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Somerset Trust Co

Somerset Trust Co acquired a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 823 shares of the software maker’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after buying an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after acquiring an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. boosted its position in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after purchasing an additional 54,386 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the transaction, the insider now directly owns 33,819 shares in the company, 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 SEC, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the sale, the chief executive officer now owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,768 shares of company stock valued at $5,744,891 in the last quarter. 5.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

AppFolio Trading Down 0.1 %

APPF stock opened at $251.92 on Friday. The stock has a market cap of $9.15 billion, a PE ratio of 70.17 and a beta of 0.87. AppFolio, Inc. has a 12 month low of $172.98 and a 12 month high of $274.56. The company has a 50-day moving average price of $249.85 and a 200 day moving average price of $235.76.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating 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 business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. Sell-side analysts forecast that AppFolio, Inc. will post 3.23 EPS for the current year.

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.