State of Alaska Department of Revenue Grows Position in AppFolio, Inc. (NASDAQ:APPF)

State of Alaska Department of Revenue increased its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 16.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,670 shares of the software maker’s stock after purchasing an additional 370 shares during the period. State of Alaska Department of Revenue’s holdings in AppFolio were worth $628,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after buying an additional 54 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC grew its holdings 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 purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. increased its position in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value of $46,436.00. Following the transaction, the insider now directly owns 18,922 shares in the company, valued at $4,393,309.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Maurice J. Duca sold 2,968 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $234.87, for a total transaction of $697,094.16. Following the transaction, the insider now owns 24,500 shares in the company, valued at approximately $5,754,315. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,652 shares of company stock worth $4,053,818 in the last 90 days. 5.24% of the stock is owned by corporate insiders.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $228.39 on Friday. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 63.62 and a beta of 0.83. The business’s 50 day moving average price is $221.39 and its 200-day moving average price is $230.79.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Sell-side analysts predict that AppFolio, Inc. will post 3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One 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. According to MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and an average 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.