Sax Wealth Advisors LLC Purchases Shares of 1,035 AppFolio, Inc. (NASDAQ:APPF)

Sax Wealth Advisors LLC acquired a new position in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,035 shares of the software maker’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of APPF. GAMMA Investing LLC grew its position in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. CWM LLC raised its holdings in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. Advisors Asset Management Inc. boosted its position in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the period. USA Financial Formulas bought a new stake in AppFolio in the 4th quarter worth $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AppFolio in the fourth quarter valued at about $64,000. Institutional investors own 62.34% of the company’s stock.

Insider Activity

In other AppFolio news, Director Timothy K. Bliss sold 12,170 shares of AppFolio stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $241.31, for a total value of $2,936,742.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Maurice J. Duca sold 11,627 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the transaction, the insider now owns 27,768 shares in the company, valued at $6,666,541.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy K. Bliss sold 12,170 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total transaction of $2,936,742.70. The disclosure for this sale can be found here. Insiders have sold a total of 142,271 shares of company stock worth $33,962,473 over the last 90 days. 9.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. StockNews.com raised shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. Finally, DA Davidson lifted their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Stock Down 0.2 %

Shares of NASDAQ APPF traded down $0.50 on Friday, reaching $213.92. 191,363 shares of the company’s stock traded hands, compared to its average volume of 305,358. The business’s 50 day simple moving average is $238.78 and its two-hundred day simple moving average is $233.72. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 103.34 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data 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. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same quarter last year, the company earned ($0.53) EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts forecast that AppFolio, Inc. will post 2.99 earnings per share for the current fiscal 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.