AppFolio, Inc. (NASDAQ:APPF) Stock Holdings Cut by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its position in AppFolio, Inc. (NASDAQ:APPF) by 74.9% during the first quarter, Holdings Channel reports. The institutional investor owned 22,870 shares of the software maker’s stock after selling 68,366 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in AppFolio were worth $5,643,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in AppFolio during the fourth quarter worth about $38,458,000. Zeno Equity Partners LLP bought a new position in shares of AppFolio during the 4th quarter valued at about $33,434,000. Principal Financial Group Inc. raised its holdings in shares of AppFolio by 2,359.8% in the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock worth $37,417,000 after purchasing an additional 145,481 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in AppFolio by 344.7% during the first quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in AppFolio during the fourth quarter worth approximately $18,636,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the sale, the insider now owns 55,000 shares of the company’s stock, valued at $12,716,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $250.26, for a total value of $2,502,600.00. Following the sale, the director now owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the transaction, the insider now owns 55,000 shares of the company’s stock, valued at $12,716,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,444 shares of company stock worth $31,124,559. 9.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APPF shares. DA Davidson upped their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday. JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

AppFolio Price Performance

AppFolio stock traded down $9.49 during mid-day trading on Tuesday, hitting $219.53. The company’s stock had a trading volume of 453,994 shares, compared to its average volume of 307,782. AppFolio, Inc. has a 52-week low of $164.29 and a 52-week high of $274.56. The company has a market cap of $7.95 billion, a PE ratio of 106.05 and a beta of 0.80. The firm’s 50 day moving average is $241.87 and its 200 day moving average is $232.18.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. As a group, analysts forecast that AppFolio, Inc. will post 2.9 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.