Aigen Investment Management LP Cuts Stake in AppFolio, Inc. (NASDAQ:APPF)

Aigen Investment Management LP cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 41.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 897 shares of the software maker’s stock after selling 637 shares during the period. Aigen Investment Management LP’s holdings in AppFolio were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APPF. State Street Corp grew its stake in AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after buying an additional 49,238 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock worth $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of AppFolio by 8.6% during 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. DF Dent & Co. Inc. increased its holdings in shares of AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after acquiring an additional 54,386 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

NASDAQ:APPF opened at $220.89 on Monday. The firm’s fifty day moving average is $234.89 and its two-hundred day moving average is $233.66. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 39.80 and a beta of 0.89. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 30th. The software maker reported $0.58 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, equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APPF. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp lowered shares of 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. Piper Sandler reissued a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $276.29.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the sale, the insider now directly owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction 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 approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,039 shares of company stock valued at $1,153,454 in the last 90 days. 5.24% of the stock is currently owned by company insiders.

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.