Axa S.A. Invests $1.25 Million in AppFolio, Inc. (NASDAQ:APPF)

Axa S.A. bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,113 shares of the software maker’s stock, valued at approximately $1,250,000.

Several other hedge funds and other institutional investors have also modified their holdings of APPF. Zeno Equity Partners LLP bought a new position in shares of AppFolio during the 4th quarter worth about $33,434,000. Principal Financial Group Inc. raised its stake in shares of AppFolio by 2,359.8% in the first quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock valued at $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Squarepoint Ops LLC lifted its position in AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock worth $45,254,000 after purchasing an additional 120,835 shares during the period. Westwind Capital boosted its stake in AppFolio by 301.0% during the second quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock worth $3,650,000 after buying an additional 112,024 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in AppFolio in the 4th quarter valued at $18,636,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Stock Performance

AppFolio stock opened at $232.20 on Wednesday. The business’s fifty day moving average is $226.49 and its two-hundred day moving average is $233.70. The firm has a market cap of $8.41 billion, a P/E ratio of 112.17 and a beta of 0.81. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) EPS. On average, equities research analysts predict that AppFolio, Inc. will post 3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the topic of several recent research reports. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Piper Sandler increased their target price on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp lifted their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Maurice J. Duca sold 2,084 shares of AppFolio stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $251.06, for a total transaction of $523,209.04. Following the completion of the sale, the insider now owns 7,976 shares in the company, valued at approximately $2,002,454.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The disclosure for this sale can be found here. Insiders have sold 38,901 shares of company stock valued at $9,331,842 over the last three months. 9.15% of the stock is owned by insiders.

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.