Insight Holdings Group LLC Cuts Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Insight Holdings Group LLC lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,861 shares of the software maker’s stock after selling 40,450 shares during the quarter. AppFolio comprises approximately 0.6% of Insight Holdings Group LLC’s portfolio, making the stock its 13th biggest position. Insight Holdings Group LLC owned about 0.43% of AppFolio worth $26,482,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Aigen Investment Management LP purchased a new position in AppFolio in the fourth quarter worth $880,000. Franklin Resources Inc. raised its position in AppFolio by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 10,441 shares of the software maker’s stock worth $1,809,000 after acquiring an additional 1,211 shares in the last quarter. Trexquant Investment LP raised its position in AppFolio by 894.0% in the fourth quarter. Trexquant Investment LP now owns 32,354 shares of the software maker’s stock worth $5,605,000 after acquiring an additional 29,099 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in AppFolio in the fourth quarter worth $64,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in AppFolio in the fourth quarter worth $1,640,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on APPF. Keefe, Bruyette & Woods upped their target price on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. KeyCorp upped their target price on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Stephens reissued an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Stock Down 1.9 %

Shares of APPF traded down $4.38 during trading hours on Friday, reaching $230.40. 197,424 shares of the company traded hands, compared to its average volume of 265,101. The stock has a market capitalization of $8.34 billion, a PE ratio of 111.30 and a beta of 0.79. AppFolio, Inc. has a fifty-two week low of $138.49 and a fifty-two week high of $256.73. The stock has a fifty day simple moving average of $233.28 and a 200 day simple moving average of $212.90.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $187.43 million for the quarter, compared to analyst estimates of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. Research analysts predict that AppFolio, Inc. will post 2.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the transaction, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the transaction, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,020 shares of company stock worth $8,123,034. 9.15% of the stock is 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.