Victory Capital Management Inc. Sells 6,317 Shares of AppFolio, Inc. (NASDAQ:APPF)

Victory Capital Management Inc. trimmed its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 6.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 94,023 shares of the software maker’s stock after selling 6,317 shares during the quarter. Victory Capital Management Inc.’s holdings in AppFolio were worth $22,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APPF. Blue Trust Inc. raised its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the period. GAMMA Investing LLC raised its position in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares during the period. CWM LLC raised its position in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the period. Advisors Asset Management Inc. raised its position in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the period. 62.34% of the stock is currently owned by institutional investors.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $229.33 on Tuesday. The company has a market capitalization of $8.33 billion, a PE ratio of 63.88 and a beta of 0.83. The business has a fifty day moving average price of $222.00 and a two-hundred day moving average price of $231.11. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm 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 business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Sell-side analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on APPF shares. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. DA Davidson upped their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler lowered their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at approximately $2,221,612.91. This represents a 12.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,796 shares of company stock worth $4,177,209 in the last quarter. 5.24% of the stock is currently owned by company insiders.

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.