Townsquare Capital LLC Sells 117 Shares of AppFolio, Inc. (NASDAQ:APPF)

Townsquare Capital LLC decreased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,563 shares of the software maker’s stock after selling 117 shares during the quarter. Townsquare Capital LLC’s holdings in AppFolio were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in AppFolio by 45.0% in the third quarter. Stifel Financial Corp now owns 1,853 shares of the software maker’s stock worth $436,000 after purchasing an additional 575 shares during the last quarter. Barclays PLC lifted its stake in shares of AppFolio by 20.5% in the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker’s stock worth $2,327,000 after purchasing an additional 1,681 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of AppFolio in the third quarter worth approximately $687,000. Tidal Investments LLC grew its position in AppFolio by 2.9% during the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after buying an additional 40 shares during the period. Finally, Franklin Resources Inc. increased its holdings in 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 buying an additional 54,386 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Activity

In related news, CEO William Shane Trigg sold 3,501 shares of the company’s 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 sale, the chief executive officer now owns 83,824 shares of the company’s stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander Wolf acquired 9,678 shares of the stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.24% of the company’s stock.

AppFolio Price Performance

APPF stock opened at $218.78 on Friday. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The business has a 50 day simple moving average of $217.92 and a two-hundred day simple moving average of $231.23. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 39.42 and a beta of 0.86.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on APPF shares. DA Davidson dropped their price target 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. Piper Sandler reiterated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. Stephens restated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research report on Friday, January 10th. Finally, William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $272.71.

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.