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

Wellington Management Group LLP lowered its stake in AppFolio, Inc. (NASDAQ:APPF) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,129 shares of the software maker’s stock after selling 8,053 shares during the quarter. Wellington Management Group LLP owned approximately 0.27% of AppFolio worth $22,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after buying an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in AppFolio by 16.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock valued at $55,672,000 after buying an additional 32,633 shares during the last quarter. Squarepoint Ops LLC raised its holdings in AppFolio by 188.2% in the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after buying an additional 120,835 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in AppFolio by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,831 shares of the software maker’s stock valued at $41,861,000 after buying an additional 24,697 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Analyst Ratings Changes

APPF has been the subject of a number of research reports. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Stock Performance

AppFolio stock opened at $259.18 on Friday. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 72.20 and a beta of 0.86. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The firm has a 50 day moving average price of $230.94 and a two-hundred day moving average price of $232.77.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during 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 quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. As a group, equities research analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the sale, the insider now owns 18,922 shares of the company’s stock, valued at $4,393,309.96. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,806 shares of company stock valued at $7,164,293 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.