3,500 AppFolio, Inc. $APPF Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,231 shares of the software maker’s stock after selling 3,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in AppFolio were worth $3,054,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in APPF. Optiver Holding B.V. raised its position in AppFolio by 827.8% in the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in AppFolio during the 3rd quarter valued at about $40,000. Integrated Wealth Concepts LLC purchased a new stake in shares of AppFolio during the 2nd quarter valued at about $36,000. Versant Capital Management Inc boosted its holdings in shares of AppFolio by 169.0% during the 2nd quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock valued at $72,000 after acquiring an additional 284 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of AppFolio by 30.8% during the 3rd quarter. Signaturefd LLC now owns 612 shares of the software maker’s stock valued at $123,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on APPF shares. UBS Group boosted their price objective on shares of AppFolio from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Wall Street Zen cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. DA Davidson raised their target price on shares of AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Zacks Research downgraded shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. Finally, Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $250.00.

AppFolio Trading Up 5.4%

Shares of NASDAQ:APPF opened at $224.86 on Tuesday. The stock has a 50 day moving average of $212.16 and a 200 day moving average of $183.89. The company has a market cap of $7.96 billion, a PE ratio of 47.44 and a beta of 0.89. AppFolio, Inc. has a 12-month low of $142.56 and a 12-month high of $265.02.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The company had revenue of $295.69 million during the quarter, compared to the consensus estimate of $294.46 million. During the same quarter in the prior year, the firm posted $1.31 EPS. AppFolio’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities research analysts predict that AppFolio, Inc. will post 5.18 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Maurice J. Duca sold 2,656 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $221.85, for a total value of $589,233.60. Following the completion of the sale, the insider owned 8,000 shares in the company, valued at approximately $1,774,800. This trade represents a 24.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Eaton sold 373 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $202.61, for a total transaction of $75,573.53. Following the completion of the sale, the chief financial officer directly owned 16,714 shares of the company’s stock, valued at approximately $3,386,423.54. The trade was a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 107,217 shares of company stock worth $21,597,095 over the last 90 days. Corporate insiders own 1.57% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc is a cloud-based software company that provides technology solutions for the real estate industry. Its platform is designed primarily for property management businesses, helping them manage accounting, leasing, maintenance, communications, payments, reporting and other operational activities through a centralized system.

The company’s products serve a range of property managers, including those overseeing residential, commercial, community association, student housing and senior living properties.