Insider Selling: AppFolio, Inc. (NASDAQ:APPF) Insider Sells $213,941.40 in Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the sale, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

AppFolio Trading Down 3.6 %

NASDAQ:APPF opened at $249.97 on Thursday. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56. The firm has a market cap of $9.08 billion, a PE ratio of 69.63 and a beta of 0.87. The stock has a fifty day moving average price of $253.64 and a 200 day moving average price of $235.86.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Global Investments purchased a new position in AppFolio in the third quarter worth approximately $759,000. JPMorgan Chase & Co. grew its stake in shares of AppFolio by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock worth $37,965,000 after purchasing an additional 5,077 shares in the last quarter. Captrust Financial Advisors increased its holdings in AppFolio by 183.3% in the third quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in AppFolio by 16.5% in the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock valued at $5,057,000 after buying an additional 3,038 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APPF. Piper Sandler lowered AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research report on Monday, January 6th. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $268.57.

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.