State of Alaska Department of Revenue Acquires 370 Shares of AppFolio, Inc. (NASDAQ:APPF)

State of Alaska Department of Revenue lifted its stake in AppFolio, Inc. (NASDAQ:APPF) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,670 shares of the software maker’s stock after purchasing an additional 370 shares during the quarter. State of Alaska Department of Revenue’s holdings in AppFolio were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of AppFolio in the 3rd quarter worth about $1,521,000. NorthCrest Asset Manangement LLC increased its position in shares of AppFolio by 14.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 4,746 shares of the software maker’s stock valued at $1,117,000 after acquiring an additional 601 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in AppFolio by 8.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the software maker’s stock worth $1,507,000 after acquiring an additional 500 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in AppFolio by 125.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 46,022 shares of the software maker’s stock worth $10,834,000 after acquiring an additional 25,619 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in AppFolio in the 3rd quarter valued at approximately $26,040,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 0.1 %

Shares of NASDAQ APPF opened at $228.39 on Friday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 63.62 and a beta of 0.83. The firm has a 50 day moving average of $221.39 and a 200 day moving average of $230.79.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.26 EPS. Sell-side analysts predict that AppFolio, Inc. will post 3.2 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew S. Mazza sold 2,371 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the sale, the insider now owns 39,980 shares in the company, valued at $8,844,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,652 shares of company stock valued at $4,053,818. Company insiders own 5.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APPF. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. KeyCorp decreased their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.75.

About AppFolio

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.