Mackenzie Financial Corp Sells 8,539 Shares of AppFolio, Inc. (NASDAQ:APPF)

Mackenzie Financial Corp trimmed its position in AppFolio, Inc. (NASDAQ:APPF) by 86.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,386 shares of the software maker’s stock after selling 8,539 shares during the period. Mackenzie Financial Corp’s holdings in AppFolio were worth $240,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI increased its holdings in shares of AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after acquiring an additional 57 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in AppFolio during the 4th quarter valued at $85,000. First Foundation Advisors acquired a new position in AppFolio during the third quarter worth $209,000. Handelsinvest Investeringsforvaltning bought a new position in shares of AppFolio in the fourth quarter valued at $240,000. Finally, Pathstone Family Office LLC acquired a new position in shares of AppFolio during the third quarter valued at about $260,000. 62.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AppFolio

In related news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Olivia Nottebohm sold 989 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APPF. KeyCorp increased their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday. Keefe, Bruyette & Woods raised their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, BTIG Research began coverage on shares of AppFolio in a research note on Friday, January 19th. They issued a “buy” rating and a $215.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

AppFolio Stock Up 12.0 %

APPF opened at $242.75 on Monday. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. The company’s 50-day moving average price is $229.59 and its two-hundred day moving average price is $205.22. AppFolio, Inc. has a twelve month low of $123.36 and a twelve month high of $256.73.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 2.72 earnings per share for the current year.

AppFolio 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.