Pacer Advisors Inc. Sells 83 Shares of AppFolio, Inc. (NASDAQ:APPF)

Pacer Advisors Inc. reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,334 shares of the software maker’s stock after selling 83 shares during the period. Pacer Advisors Inc.’s holdings in AppFolio were worth $823,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments purchased a new stake in AppFolio during the third quarter valued at about $759,000. JPMorgan Chase & Co. raised its holdings 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. Captrust Financial Advisors lifted its position in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock worth $1,030,000 after buying an additional 2,830 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in AppFolio by 16.5% in the third quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after buying an additional 3,038 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after acquiring an additional 141 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Matthew S. Mazza sold 926 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the completion of the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 4,145 shares of the company’s 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 directly owns 73,682 shares in the company, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,606 shares of company stock worth $5,958,832. 5.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Stephens reiterated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a report on Friday. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Finally, William Blair restated an “outperform” rating on shares of AppFolio in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $276.29.

AppFolio Price Performance

APPF opened at $238.50 on Tuesday. The firm has a market cap of $8.66 billion, a P/E ratio of 42.97 and a beta of 0.88. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a 50 day simple moving average of $253.57 and a two-hundred day simple moving average of $235.22.

AppFolio (NASDAQ:APPF) last issued 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%. Equities analysts anticipate that AppFolio, Inc. will post 4.21 earnings per share for the current year.

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.