First Trust Advisors LP Sells 31,706 Shares of AppFolio, Inc. (NASDAQ:APPF)

First Trust Advisors LP reduced its holdings in shares of AppFolio, Inc. (NASDAQ:APPF – Get Rating) by 14.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,545 shares of the software maker’s stock after selling 31,706 shares during the quarter. First Trust Advisors LP’s holdings in AppFolio were worth $19,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in APPF. Federated Hermes Inc. bought a new position in shares of AppFolio during the 1st quarter worth approximately $39,000. Harbor Investment Advisory LLC bought a new stake in AppFolio in the 4th quarter valued at $43,000. Hollencrest Capital Management bought a new stake in AppFolio in the 4th quarter valued at $65,000. Tower Research Capital LLC TRC boosted its stake in AppFolio by 43.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 710 shares of the software maker’s stock valued at $74,000 after purchasing an additional 214 shares during the period. Finally, UBS Group AG boosted its stake in AppFolio by 311.8% in the 4th quarter. UBS Group AG now owns 1,149 shares of the software maker’s stock valued at $121,000 after purchasing an additional 870 shares during the period. 64.79% of the stock is currently owned by institutional investors.

AppFolio Stock Performance

AppFolio stock opened at $143.59 on Monday. AppFolio, Inc. has a 52 week low of $85.51 and a 52 week high of $148.17. The stock has a market capitalization of $5.10 billion, a P/E ratio of -56.75 and a beta of 0.98. The stock has a fifty day moving average of $129.39 and a 200-day moving average of $121.38.

AppFolio (NASDAQ:APPF – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The software maker reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.52). AppFolio had a negative return on equity of 34.11% and a negative net margin of 17.69%. The business had revenue of $136.10 million for the quarter, compared to analyst estimates of $128.34 million. On average, research analysts forecast that AppFolio, Inc. will post -1.6 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on APPF shares. DA Davidson boosted their price target on AppFolio from $100.00 to $117.00 in a research note on Wednesday, May 3rd. TheStreet raised AppFolio from a “d+” rating to a “c-” rating in a report on Thursday, May 11th. KeyCorp lifted their price objective on AppFolio from $141.00 to $155.00 in a report on Friday, April 28th. Finally, StockNews.com began coverage on AppFolio in a report on Thursday. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

AppFolio Company Profile

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AppFolio, Inc, provides industry-specific cloud-based business software solutions, services, and data analytics for the real estate industry. The firm offers AppFolio Property Manager, a property management solution designed to address the operational and business requirements of property management companies and their business ecosystems and AppFolio Investment Management, a cloud-based software solution for real estate investment managers of various sizes that provides tools and services designed to streamline their real estate investment management businesses.