Hancock Whitney Corp Has $983,000 Holdings in AppFolio, Inc. (NASDAQ:APPF)

Hancock Whitney Corp increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,176 shares of the software maker’s stock after acquiring an additional 524 shares during the period. Hancock Whitney Corp’s holdings in AppFolio were worth $983,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APPF. Squarepoint Ops LLC boosted its position in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after acquiring an additional 120,835 shares during the last quarter. Westwind Capital lifted its position in shares of AppFolio by 301.0% in the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after purchasing an additional 112,024 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock worth $26,866,000 after purchasing an additional 92,034 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in AppFolio in the second quarter valued at $12,993,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in AppFolio during the 2nd quarter worth about $9,807,000. 62.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the sale, the chief executive officer now owns 74,327 shares in the company, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value 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. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,675 shares of company stock valued at $6,280,868 in the last three months. Corporate insiders own 5.24% of the company’s stock.

AppFolio Stock Performance

Shares of AppFolio stock opened at $255.40 on Wednesday. The firm has a 50-day moving average of $223.34 and a 200-day moving average of $230.86. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The stock has a market cap of $9.28 billion, a PE ratio of 71.14 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current fiscal 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.