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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in AppFolio by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock worth $1,420,000 after acquiring an additional 49 shares during the last quarter. Blue Trust Inc. raised its position in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. ProShare Advisors LLC grew its position in shares of AppFolio by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock valued at $888,000 after buying an additional 102 shares during the last quarter. CWM LLC increased its stake in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the period. 62.34% of the stock is currently owned by institutional investors.

AppFolio Price Performance

APPF opened at $255.40 on Wednesday. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The firm has a market capitalization of $9.28 billion, a PE ratio of 71.14 and a beta of 0.83. The company’s 50-day moving average is $223.34 and its 200 day moving average is $230.86.

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, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, analysts expect that AppFolio, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 3,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now directly owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 2,577 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the sale, the insider now owns 2,875 shares of the company’s stock, valued at approximately $720,906.25. The trade was a 47.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,675 shares of company stock worth $6,280,868. 5.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.