State of New Jersey Common Pension Fund D Sells 4,937 Shares of AppFolio, Inc. (NASDAQ:APPF)

State of New Jersey Common Pension Fund D trimmed its stake in AppFolio, Inc. (NASDAQ:APPF) by 38.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,063 shares of the software maker’s stock after selling 4,937 shares during the period. 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).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after buying an additional 73,965 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in AppFolio by 3.8% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock valued at $72,988,000 after buying an additional 15,283 shares during the period. Bank of New York Mellon Corp boosted its position in AppFolio by 13.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after buying an additional 28,673 shares during the period. Norges Bank purchased a new stake in AppFolio in the 4th quarter valued at about $38,458,000. Finally, Zeno Equity Partners LLP purchased a new stake in AppFolio in the 4th quarter valued at about $33,434,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APPF has been the subject of several research reports. StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler upped their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. DA Davidson upped their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,741 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $230.94, for a total transaction of $633,006.54. Following the transaction, the insider now owns 37,904 shares in the company, valued at approximately $8,753,549.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Maurice J. Duca sold 2,700 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $234.05, for a total value of $631,935.00. Following the sale, the insider now owns 14,716 shares in the company, valued at $3,444,279.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,741 shares of the stock in a transaction on Monday, June 24th. The stock was 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 owns 37,904 shares in the company, valued at approximately $8,753,549.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,951 shares of company stock worth $13,952,226. 9.15% of the stock is owned by corporate insiders.

AppFolio Stock Up 0.8 %

NASDAQ APPF opened at $233.79 on Friday. The firm has a market cap of $8.47 billion, a PE ratio of 112.94 and a beta of 0.81. The company has a 50 day moving average price of $230.66 and a 200 day moving average price of $233.16. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 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 analyst estimates of $190.57 million. During the same quarter in the previous year, the business posted ($0.53) EPS. AppFolio’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts anticipate that AppFolio, Inc. will post 3.04 earnings per share for the current fiscal 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.