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

State of New Jersey Common Pension Fund D increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American International Group Inc. grew its position in AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after acquiring an additional 26,815 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock valued at $1,588,000 after acquiring an additional 4,445 shares during the last quarter. Lazard Asset Management LLC grew its position in AppFolio by 750.5% during the first quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after acquiring an additional 8,128 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in AppFolio by 11.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock valued at $10,243,000 after acquiring an additional 4,131 shares during the last quarter. Finally, Summit Global Investments bought a new position in AppFolio during the third quarter valued at approximately $759,000. 62.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $232.59, for a total value of $116,295.00. Following the completion of the transaction, the insider now owns 22,997 shares in the company, valued at approximately $5,348,872.23. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the completion of the transaction, the insider now owns 28,266 shares of the company’s stock, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,796 shares of company stock worth $4,177,209. 5.24% of the stock is owned by corporate insiders.

AppFolio Stock Down 1.4 %

Shares of APPF stock opened at $230.02 on Friday. The stock has a fifty day moving average of $221.86 and a 200 day moving average of $231.15. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 64.07 and a beta of 0.83.

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

Analyst Ratings Changes

APPF has been the topic of a number of recent research reports. KeyCorp reduced their price target on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Finally, Piper Sandler dropped their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.