Sax Wealth Advisors LLC Has $247,000 Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Sax Wealth Advisors LLC reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,002 shares of the software maker’s stock after selling 197 shares during the period. Sax Wealth Advisors LLC’s holdings in AppFolio were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APPF. Somerset Trust Co acquired a new stake in shares of AppFolio during the fourth quarter worth $203,000. Merit Financial Group LLC purchased a new stake in shares of AppFolio in the fourth quarter valued at about $560,000. Assenagon Asset Management S.A. lifted its position in shares of AppFolio by 13.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 52,007 shares of the software maker’s stock worth $12,831,000 after buying an additional 5,985 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in AppFolio by 17.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,263 shares of the software maker’s stock worth $1,052,000 after acquiring an additional 642 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new position in shares of AppFolio in the 4th quarter worth about $123,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on APPF. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Piper Sandler lowered shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $268.57.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. The trade was a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the completion of the transaction, the insider now directly owns 27,566 shares in the company, valued at $7,043,113. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock valued at $5,744,891. Company insiders own 5.24% of the company’s stock.

AppFolio Trading Down 0.1 %

Shares of NASDAQ:APPF opened at $251.92 on Monday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 70.17 and a beta of 0.87. AppFolio, Inc. has a 12-month low of $172.98 and a 12-month high of $274.56. The stock’s 50-day moving average price is $249.85 and its 200-day moving average price is $235.58.

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

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.