Wellington Management Group LLP Sells 8,053 Shares of AppFolio, Inc. (NASDAQ:APPF)

Wellington Management Group LLP lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,129 shares of the software maker’s stock after selling 8,053 shares during the quarter. Wellington Management Group LLP’s holdings in AppFolio were worth $22,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares in the last quarter. CWM LLC grew its stake in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP grew its stake in shares of AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of AppFolio in the 3rd quarter worth $79,000. Institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the sale, the insider now directly owns 28,266 shares of the company’s stock, valued at $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 1,059 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total transaction of $242,616.90. Following the sale, the insider now directly owns 9,388 shares in the company, valued at approximately $2,150,790.80. This trade represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,806 shares of company stock valued at $7,164,293 over the last three months. 5.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on APPF. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp reduced their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Piper Sandler cut their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $259.18 on Friday. The company’s 50-day moving average is $230.94 and its 200 day moving average is $232.77. The company has a market capitalization of $9.42 billion, a P/E ratio of 72.20 and a beta of 0.86. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current 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.