Federated Hermes Inc. Sells 23,680 Shares of AppFolio, Inc. (NASDAQ:APPF)

Federated Hermes Inc. reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 54.1% during the fourth quarter, HoldingsChannel reports. The firm owned 20,091 shares of the software maker’s stock after selling 23,680 shares during the period. Federated Hermes Inc.’s holdings in AppFolio were worth $4,957,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of AppFolio by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,278 shares of the software maker’s stock valued at $37,965,000 after buying an additional 5,077 shares in the last quarter. South Dakota Investment Council raised its position in AppFolio by 94.4% during the fourth quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock valued at $864,000 after purchasing an additional 1,700 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in AppFolio during the fourth quarter valued at about $1,392,000. SYM FINANCIAL Corp bought a new stake in AppFolio during the fourth quarter worth about $292,000. Finally, Sei Investments Co. boosted its holdings in shares of AppFolio by 9.4% in the 4th quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock worth $11,306,000 after purchasing an additional 3,935 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

AppFolio Stock Performance

Shares of AppFolio stock opened at $224.20 on Friday. The company’s 50 day moving average price is $218.26 and its 200-day moving average price is $231.65. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 40.40 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced 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, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexander Wolf acquired 9,678 shares of AppFolio stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of 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 position. The disclosure for this purchase can be found here. 5.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research reports. Stephens reissued an “overweight” rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued 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 a consensus price target of $276.29.

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.