State of New Jersey Common Pension Fund D Has $2.08 Million Stock Holdings in AppFolio, Inc. $APPF

State of New Jersey Common Pension Fund D lifted its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,041 shares of the software maker’s stock after purchasing an additional 44 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AppFolio were worth $2,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AlphaQuest LLC raised its position in shares of AppFolio by 60.0% during the second quarter. AlphaQuest LLC now owns 1,408 shares of the software maker’s stock worth $324,000 after purchasing an additional 528 shares during the period. Alamar Capital Management LLC raised its position in shares of AppFolio by 60.9% during the second quarter. Alamar Capital Management LLC now owns 18,300 shares of the software maker’s stock worth $4,214,000 after purchasing an additional 6,925 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of AppFolio by 263.0% during the second quarter. First Citizens Bank & Trust Co. now owns 4,556 shares of the software maker’s stock worth $1,049,000 after purchasing an additional 3,301 shares during the period. Wallace Advisory Group LLC acquired a new stake in shares of AppFolio during the second quarter worth $249,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of AppFolio by 58.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,523 shares of the software maker’s stock worth $346,000 after purchasing an additional 559 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $238.67 on Thursday. The business’s 50-day moving average price is $261.40 and its two-hundred day moving average price is $244.60. AppFolio, Inc. has a one year low of $190.24 and a one year high of $326.04. The company has a market capitalization of $8.56 billion, a P/E ratio of 43.08 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, major shareholder Klaus Schauser sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the transaction, the insider owned 300,000 shares in the company, valued at $88,542,000. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $321.38, for a total value of $996,278.00. Following the completion of the transaction, the insider owned 42,400 shares in the company, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,803 shares of company stock worth $16,938,949 over the last 90 days. 4.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of recent analyst reports. KeyCorp raised AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a research report on Friday, October 17th. Piper Sandler upgraded AppFolio from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $240.00 to $350.00 in a report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $350.00 price target on shares of AppFolio in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods upgraded AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price target on the stock in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $318.20.

AppFolio Company Profile

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.