State of New Jersey Common Pension Fund D Acquires 412 Shares of AppFolio, Inc. (NASDAQ:APPF)

State of New Jersey Common Pension Fund D raised its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,475 shares of the software maker’s stock after purchasing an additional 412 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AppFolio were worth $1,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its stake 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 purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its holdings in AppFolio by 589.5% during the 2nd 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 last quarter. CWM LLC boosted its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in AppFolio by 688.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 62.34% of the company’s stock.

AppFolio Stock Down 1.4 %

NASDAQ APPF opened at $230.02 on Friday. The company has a market cap of $8.36 billion, a PE ratio of 64.07 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The firm’s 50-day simple moving average is $221.86 and its two-hundred day simple moving average is $231.15.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

APPF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. DA Davidson lifted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Piper Sandler cut their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, KeyCorp cut their price target 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $261.75.

Insider Activity

In other news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now directly owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the insider now owns 18,922 shares in the company, valued at approximately $4,393,309.96. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,796 shares of company stock worth $4,177,209 over the last ninety days. Company insiders own 5.24% of the company’s stock.

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.