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

Atika Capital Management LLC trimmed its stake in AppFolio, Inc. (NASDAQ:APPF) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,300 shares of the software maker’s stock after selling 1,700 shares during the period. AppFolio makes up 1.5% of Atika Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Atika Capital Management LLC owned about 0.16% of AppFolio worth $14,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of AppFolio by 5.3% during the third quarter. The Manufacturers Life Insurance Company now owns 19,130 shares of the software maker’s stock worth $4,503,000 after purchasing an additional 962 shares during the last quarter. FMR LLC grew its stake in AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker’s stock worth $14,334,000 after buying an additional 55,348 shares during the last quarter. Captrust Financial Advisors increased its position in AppFolio by 183.3% during the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock worth $1,030,000 after buying an additional 2,830 shares during the period. Janus Henderson Group PLC lifted its stake in AppFolio by 2.4% in the third quarter. Janus Henderson Group PLC now owns 9,353 shares of the software maker’s stock valued at $2,200,000 after buying an additional 215 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of AppFolio in the third quarter valued at approximately $6,474,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. Piper Sandler reissued a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $276.29.

AppFolio Stock Down 3.6 %

Shares of NASDAQ:APPF opened at $216.25 on Friday. The company has a 50-day moving average price of $221.98 and a 200 day moving average price of $232.34. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The company has a market cap of $7.87 billion, a P/E ratio of 38.96 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share 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%. Analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other news, Director Alexander Wolf acquired 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the purchase, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.