M&G Plc bought a new stake in shares of AppFolio, Inc. (NASDAQ:APPF – Free Report) 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 %
AppFolio (NASDAQ:APPF – Get Free Report) 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.
View Our Latest Report on AppFolio
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.
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