AppFolio, Inc. (NASDAQ:APPF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 38.0% during the second quarter, Holdings Channel reports. The fund owned 8,063 shares of the software maker’s stock after selling 4,937 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AppFolio were worth $1,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APPF. American International Group Inc. boosted its holdings in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after buying an additional 26,815 shares in the last quarter. Texas Permanent School Fund Corp purchased a new stake in AppFolio during the first quarter worth $4,415,000. Oberndorf William E purchased a new stake in AppFolio during the fourth quarter worth $3,020,000. Nebula Research & Development LLC boosted its holdings in AppFolio by 554.5% during the fourth quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock worth $1,566,000 after buying an additional 7,658 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after buying an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 11,627 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the completion of the sale, the insider now directly owns 27,768 shares in the company, valued at $6,666,541.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 2,741 shares of AppFolio stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $230.94, for a total transaction of $633,006.54. Following the completion of the sale, the insider now directly owns 37,904 shares in the company, valued at $8,753,549.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 11,627 shares of AppFolio stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the sale, the insider now owns 27,768 shares of the company’s stock, valued at $6,666,541.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,951 shares of company stock worth $13,952,226. Insiders own 9.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. Piper Sandler increased their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. KeyCorp increased their price objective on shares of AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Trading Up 0.8 %

NASDAQ:APPF opened at $233.79 on Friday. The company’s 50-day moving average price is $230.66 and its 200-day moving average price is $233.16. The company has a market cap of $8.47 billion, a P/E ratio of 112.94 and a beta of 0.81. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same period last year, the business earned ($0.53) earnings per share. AppFolio’s revenue was up 34.2% compared to the same quarter last year. On average, analysts expect that AppFolio, Inc. will post 3.04 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.