Victory Capital Management Inc. Sells 17,166 Shares of AppFolio, Inc. (NASDAQ:APPF)

Victory Capital Management Inc. decreased its position in AppFolio, Inc. (NASDAQ:APPF) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,857 shares of the software maker’s stock after selling 17,166 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of AppFolio worth $18,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its position in shares of AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in AppFolio during the fourth quarter valued at approximately $50,000. Jones Financial Companies Lllp raised its position in AppFolio by 60.4% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after acquiring an additional 93 shares during the period. Blue Trust Inc. boosted its stake in shares of AppFolio by 126.5% during the 4th quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock worth $62,000 after acquiring an additional 148 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of AppFolio during the 3rd quarter valued at $79,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 838 shares of AppFolio stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on APPF shares. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Friday, January 31st. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. Finally, Stephens restated an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. One research 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. According to MarketBeat.com, AppFolio presently has a consensus rating of “Hold” and a consensus price target of $276.29.

AppFolio Stock Performance

APPF stock opened at $214.46 on Wednesday. The company’s fifty day moving average price is $233.61 and its 200-day moving average price is $233.48. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The company has a market capitalization of $7.81 billion, a PE ratio of 38.64 and a beta of 0.89.

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