Allspring Global Investments Holdings LLC Sells 11,053 Shares of AppFolio, Inc. (NASDAQ:APPF)

Allspring Global Investments Holdings LLC lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 44.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,583 shares of the software maker’s stock after selling 11,053 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AppFolio were worth $3,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APPF. State Street Corp increased its stake in shares of AppFolio by 8.2% during the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock valued at $153,748,000 after buying an additional 49,238 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of AppFolio by 82.2% during the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares during the period. Geode Capital Management LLC increased its stake in shares of AppFolio by 8.6% during the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after buying an additional 32,743 shares during the period. DF Dent & Co. Inc. increased its stake in shares of AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after buying an additional 32,181 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of 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 period. Institutional investors own 85.19% of the company’s stock.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $216.23 on Friday. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The business has a fifty day moving average price of $243.31 and a 200-day moving average price of $233.45. The company has a market capitalization of $7.87 billion, a PE ratio of 38.96 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. On average, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the sale, the director now directly owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This trade represents a 8.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,577 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $250.75, for a total value of $646,182.75. Following the sale, the insider now directly owns 2,875 shares in the company, valued at $720,906.25. This trade represents a 47.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,321 shares of company stock worth $3,034,077 over the last three months. 5.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp cut AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.