AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in AppFolio, Inc. (NASDAQ:APPF) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,374 shares of the software maker’s stock after selling 1,098 shares during the quarter. Corebridge Financial Inc.’s holdings in AppFolio were worth $6,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in APPF. Congress Wealth Management LLC DE bought a new stake in shares of AppFolio in the 4th quarter worth approximately $226,000. Vanguard Group Inc. lifted its position in shares of AppFolio by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after acquiring an additional 91,174 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of AppFolio during the 4th quarter worth $202,000. KLP Kapitalforvaltning AS acquired a new position in shares of AppFolio in the 4th quarter worth $1,456,000. Finally, Sei Investments Co. raised its position in shares of AppFolio by 9.4% during the fourth 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 during the period. Institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

APPF stock opened at $221.30 on Friday. The firm has a 50 day simple moving average of $225.38 and a 200 day simple moving average of $232.40. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The stock has a market cap of $8.06 billion, a P/E ratio of 39.87 and a beta of 0.89.

AppFolio (NASDAQ:APPF) last issued its 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%. Sell-side analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $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. Insiders own 5.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on APPF. William Blair reiterated an “outperform” rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. Piper Sandler restated a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. Finally, Stephens reiterated an “overweight” rating and set a $295.00 price objective 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 given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $276.29.

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.