State of Alaska Department of Revenue Makes New Investment in AppFolio, Inc. (NASDAQ:APPF)

State of Alaska Department of Revenue bought a new position in shares of AppFolio, Inc. (NASDAQ:APPFFree Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,300 shares of the software maker’s stock, valued at approximately $567,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Azzad Asset Management Inc. ADV grew its holdings in AppFolio by 38.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,641 shares of the software maker’s stock worth $898,000 after acquiring an additional 1,009 shares during the last quarter. State of Michigan Retirement System acquired a new position in shares of AppFolio in the 1st quarter worth approximately $1,209,000. Diversified Trust Co acquired a new position in shares of AppFolio in the 1st quarter worth approximately $619,000. SteelPeak Wealth LLC acquired a new position in shares of AppFolio in the 1st quarter worth approximately $247,000. Finally, First Bank & Trust acquired a new position in shares of AppFolio in the 1st quarter worth approximately $297,000. 62.34% of the stock is owned by institutional investors.

Insider Buying and Selling at AppFolio

In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the sale, the director now owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the sale, the director now owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $252.82, for a total transaction of $221,470.32. Following the sale, the insider now owns 7,100 shares of the company’s stock, valued at approximately $1,795,022. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,982 shares of company stock worth $29,429,129. 9.15% of the stock is owned by corporate insiders.

AppFolio Stock Down 0.4 %

AppFolio stock opened at $247.96 on Thursday. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $256.73. The firm’s fifty day moving average is $239.02 and its 200 day moving average is $223.74. The company has a market capitalization of $8.98 billion, a PE ratio of 119.79 and a beta of 0.80.

AppFolio (NASDAQ:APPFGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. Sell-side analysts expect that AppFolio, Inc. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Piper Sandler assumed coverage on shares of AppFolio in a research report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target on the stock. Stephens restated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

Get Our Latest Stock Report on APPF

About AppFolio

(Free Report)

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.

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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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