Azzad Asset Management Inc. ADV Sells 12,110 Shares of AppFolio, Inc. $APPF

Azzad Asset Management Inc. ADV lessened its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 76.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,825 shares of the software maker’s stock after selling 12,110 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in AppFolio were worth $1,054,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in AppFolio by 40.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,166,752 shares of the software maker’s stock valued at $321,637,000 after acquiring an additional 333,861 shares during the period. William Blair Investment Management LLC grew its position in shares of AppFolio by 73.6% in the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after purchasing an additional 310,834 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AppFolio by 0.3% during the second quarter. Geode Capital Management LLC now owns 438,522 shares of the software maker’s stock worth $100,999,000 after purchasing an additional 1,458 shares during the period. Long Walk Management LP lifted its holdings in AppFolio by 78.5% during the 2nd quarter. Long Walk Management LP now owns 276,325 shares of the software maker’s stock worth $63,632,000 after purchasing an additional 121,525 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in AppFolio by 76.3% in the 2nd quarter. Brown Advisory Inc. now owns 222,889 shares of the software maker’s stock valued at $51,327,000 after purchasing an additional 96,470 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Buying and Selling at AppFolio

In other news, General Counsel Evan Pickering sold 334 shares of AppFolio stock in a transaction on Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the transaction, the general counsel owned 2,969 shares in the company, valued at approximately $723,456.23. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Mathias Eaton sold 517 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at $2,307,147.36. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,745 shares of company stock valued at $2,097,550. 4.68% of the stock is currently owned by corporate insiders.

AppFolio Stock Up 1.3%

APPF stock opened at $179.73 on Monday. The company’s 50-day moving average price is $222.68 and its two-hundred day moving average price is $247.10. The firm has a market cap of $6.46 billion, a P/E ratio of 46.32 and a beta of 0.75. AppFolio, Inc. has a 12 month low of $176.87 and a 12 month high of $326.04.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.17. The business had revenue of $248.19 million for the quarter, compared to analyst estimates of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Equities analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. DA Davidson lowered their price objective on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. lowered their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Wells Fargo & Company reissued a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Finally, Piper Sandler dropped their price target on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and an average target price of $270.83.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.