M&G Plc Buys Shares of 35,980 AppFolio, Inc. (NASDAQ:APPF)

M&G Plc bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 35,980 shares of the software maker’s stock, valued at approximately $8,887,000. M&G Plc owned about 0.10% of AppFolio at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Zeno Equity Partners LLP purchased a new stake in shares of AppFolio in the fourth quarter worth $30,000. USA Financial Formulas purchased a new stake in shares of AppFolio in the fourth quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AppFolio in the fourth quarter worth $64,000. Meeder Asset Management Inc. purchased a new stake in shares of AppFolio in the fourth quarter worth $85,000. Finally, Headlands Technologies LLC purchased a new stake in shares of AppFolio in the fourth quarter worth $85,000. 62.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total transaction of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Maurice J. Duca sold 876 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the sale, the insider now owns 55,000 shares of the company’s stock, valued at approximately $12,716,000. The disclosure for this sale can be found here. Insiders sold 124,982 shares of company stock worth $29,689,129 in the last 90 days. 9.15% of the stock is owned by corporate insiders.

AppFolio Stock Down 0.2 %

APPF traded down $0.64 on Friday, reaching $263.02. 330,386 shares of the company traded hands, compared to its average volume of 355,634. AppFolio, Inc. has a one year low of $164.29 and a one year high of $268.66. The firm has a fifty day simple moving average of $241.48 and a two-hundred day simple moving average of $228.05. The company has a market cap of $9.52 billion, a P/E ratio of 127.06 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million during the quarter, compared to analyst estimates of $173.66 million. On average, equities analysts forecast that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPF has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, July 12th. KeyCorp increased their price objective on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $261.71.

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.