Legal & General Group Plc Sells 1,783 Shares of AppFolio, Inc. (NASDAQ:APPF)

Legal & General Group Plc decreased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,745 shares of the software maker’s stock after selling 1,783 shares during the period. Legal & General Group Plc owned about 0.10% of AppFolio worth $8,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its holdings in AppFolio by 881.2% during the 4th quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Norges Bank bought a new position in AppFolio during the fourth quarter worth about $68,037,000. Lord Abbett & CO. LLC raised 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 purchasing an additional 207,204 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of AppFolio by 227.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 233,892 shares of the software maker’s stock worth $57,706,000 after purchasing an additional 162,540 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of AppFolio during the fourth quarter worth approximately $30,195,000. 85.19% of the stock is currently owned by institutional investors.

AppFolio Price Performance

Shares of AppFolio stock opened at $218.78 on Friday. The company’s 50 day moving average price is $217.92 and its two-hundred day moving average price is $231.20. The firm has a market capitalization of $7.96 billion, a P/E ratio of 39.42 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stephens restated an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, DA Davidson decreased their price objective on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $272.71.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew S. Mazza sold 838 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the sale, the insider now owns 22,701 shares of the company’s stock, valued at $5,795,565.30. The trade was 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.

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.