AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 34.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,883 shares of the software maker’s stock after purchasing an additional 741 shares during the quarter. Verdence Capital Advisors LLC’s holdings in AppFolio were worth $711,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Global Investments acquired a new position in AppFolio in the 3rd quarter worth about $759,000. JPMorgan Chase & Co. raised its holdings in AppFolio by 3.3% in the 3rd 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 during the period. Captrust Financial Advisors raised its holdings in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock worth $1,030,000 after purchasing an additional 2,830 shares during the period. Baker Avenue Asset Management LP raised its holdings in AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after purchasing an additional 3,038 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock worth $92,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APPF shares. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a report on Friday, January 10th. Stephens reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. One 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 company. Based on data from MarketBeat.com, AppFolio has an average rating of “Hold” and a consensus target price of $276.29.

Insider Activity

In related news, insider Matthew S. Mazza sold 838 shares of the 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 completion of the transaction, the insider now directly owns 22,701 shares in the company, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,039 shares of company stock worth $1,153,454 over the last ninety days. Corporate insiders own 5.24% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $220.11 on Friday. The business has a 50 day simple moving average of $236.11 and a 200-day simple moving average of $233.63. The firm has a market capitalization of $8.01 billion, a PE ratio of 39.66 and a beta of 0.88. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last posted 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 net margin of 25.69% and a return on equity of 26.21%. On average, equities research analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

AppFolio Company 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.