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

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 18.7% during the third quarter, according to the company in its most recent disclosure with the SEC. 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 SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of AppFolio by 20.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after acquiring an additional 259,933 shares during the period. Wellington Management Group LLP bought a new position in shares of AppFolio in the 2nd quarter worth $36,063,000. Lead Edge Capital Management LLC purchased a new stake in shares of AppFolio during the 1st quarter worth $33,183,000. Bank of New York Mellon Corp purchased a new stake in shares of AppFolio during the 2nd quarter worth $23,524,000. Finally, Renaissance Technologies LLC boosted its position in AppFolio by 55.1% during the first quarter. Renaissance Technologies LLC now owns 227,280 shares of the software maker’s stock valued at $35,869,000 after purchasing an additional 80,760 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Maurice Duca sold 2,656 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $221.85, for a total transaction of $589,233.60. Following the sale, the insider directly owned 8,000 shares of the company’s stock, valued at $1,774,800. This represents a 24.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Eaton sold 373 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $202.61, for a total value of $75,573.53. Following the transaction, the chief financial officer owned 16,714 shares in the company, valued at $3,386,423.54. This represents 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 107,217 shares of company stock worth $21,597,095 over the last three months. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of recent analyst reports. KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Wednesday, October 14th. UBS Group boosted their price objective on shares of AppFolio from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Zacks Research cut shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. DA Davidson increased their target price on shares of AppFolio from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

AppFolio Trading Up 5.4%

NASDAQ APPF opened at $224.86 on Tuesday. The company has a fifty day simple moving average of $212.16 and a two-hundred day simple moving average of $183.89. The stock has a market cap of $7.96 billion, a P/E 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 announced its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.03. AppFolio had a return on equity of 33.56% and a net margin of 15.62%. The firm had revenue of $295.69 million during the quarter, compared to analysts’ expectations of $294.46 million. During the same period last year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, sell-side analysts forecast that AppFolio, Inc. will post 5.18 earnings per share for the current year.

AppFolio 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.