Summit Investment Advisors Inc. Sells 97 Shares of AppFolio, Inc. (NASDAQ:APPF)

Summit Investment Advisors Inc. cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,623 shares of the software maker’s stock after selling 97 shares during the period. Summit Investment Advisors Inc.’s holdings in AppFolio were worth $1,141,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stifel Financial Corp lifted its position in shares of AppFolio by 45.0% during the 3rd quarter. Stifel Financial Corp now owns 1,853 shares of the software maker’s stock worth $436,000 after buying an additional 575 shares during the last quarter. Barclays PLC raised its stake in AppFolio by 20.5% during the third quarter. Barclays PLC now owns 9,888 shares of the software maker’s stock worth $2,327,000 after acquiring an additional 1,681 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AppFolio by 8.6% in the third 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 during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of AppFolio in the 3rd quarter valued at approximately $687,000. Finally, Tidal Investments LLC grew its holdings in shares of AppFolio by 2.9% during the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of APPF opened at $218.78 on Friday. The business has a 50-day moving average of $217.92 and a 200-day moving average of $231.29. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 39.42 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its quarterly 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 return on equity of 26.21% and a net margin of 25.69%. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on APPF shares. Stephens reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a report on Friday, January 10th. DA Davidson lowered their target price on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $272.71.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction that occurred 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. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.