Crossmark Global Holdings Inc. Lowers Stake in AppFolio, Inc. (NASDAQ:APPF)

Crossmark Global Holdings Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,684 shares of the software maker’s stock after selling 86 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in AppFolio were worth $416,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. increased its position in AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after purchasing an additional 110 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares during the period. Quarry LP grew its position in AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after acquiring an additional 142 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of AppFolio during the third quarter valued at about $79,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APPF. Piper Sandler lowered shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research note on Monday, January 6th. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $268.57.

AppFolio Stock Performance

Shares of APPF opened at $250.03 on Monday. AppFolio, Inc. has a 52 week low of $172.98 and a 52 week high of $274.56. The company’s 50 day moving average price is $252.13 and its 200 day moving average price is $235.78. The company has a market capitalization of $9.08 billion, a PE ratio of 69.65 and a beta of 0.87.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities analysts forecast that AppFolio, Inc. will post 3.2 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction on Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the sale, the chief executive officer now owns 73,682 shares in the company, valued at $19,401,944.24. The trade was a 5.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew S. Mazza sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the completion of the sale, the insider now owns 27,566 shares in the company, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is owned by insiders.

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.