Matthew S. Mazza Sells 838 Shares of AppFolio, Inc. (NASDAQ:APPF) Stock

AppFolio, Inc. (NASDAQ:APPF) insider Matthew S. Mazza sold 838 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now owns 22,701 shares of the company’s stock, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AppFolio Stock Up 1.7 %

NASDAQ APPF opened at $259.22 on Wednesday. The company has a 50-day simple moving average of $253.26 and a two-hundred day simple moving average of $235.76. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 72.21 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

Institutional Trading of AppFolio

A number of institutional investors have recently modified their holdings of the company. Entropy Technologies LP boosted its holdings in shares of AppFolio by 257.7% during the fourth quarter. Entropy Technologies LP now owns 5,830 shares of the software maker’s stock worth $1,438,000 after purchasing an additional 4,200 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of AppFolio by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 28,064 shares of the software maker’s stock worth $6,924,000 after purchasing an additional 114 shares during the period. Deepwater Asset Management LLC purchased a new stake in shares of AppFolio during the fourth quarter worth about $15,483,000. SYM FINANCIAL Corp purchased a new stake in shares of AppFolio during the fourth quarter worth about $292,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of AppFolio during the fourth quarter worth about $257,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APPF has been the subject of several research reports. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. Piper Sandler lowered shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AppFolio has a consensus rating of “Hold” and a consensus target price of $268.57.

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.