Azzad Asset Management Inc. ADV Sells 12,110 Shares of AppFolio, Inc. $APPF

Azzad Asset Management Inc. ADV cut its holdings in AppFolio, Inc. (NASDAQ:APPF) by 76.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,825 shares of the software maker’s stock after selling 12,110 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in AppFolio were worth $1,054,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in shares of AppFolio in the third quarter valued at approximately $31,000. TD Private Client Wealth LLC lifted its position in AppFolio by 2,116.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after acquiring an additional 127 shares in the last quarter. First Horizon Corp acquired a new position in AppFolio in the 3rd quarter worth $39,000. Hantz Financial Services Inc. increased its holdings in AppFolio by 373.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of AppFolio by 58.7% in the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Up 1.3%

Shares of AppFolio stock opened at $179.73 on Monday. AppFolio, Inc. has a 12-month low of $176.87 and a 12-month high of $326.04. The business’s 50 day moving average is $222.68 and its 200-day moving average is $247.10. The stock has a market cap of $6.46 billion, a P/E ratio of 46.32 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. The business had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. On average, sell-side analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Insider Activity at AppFolio

In other AppFolio news, General Counsel Evan Pickering sold 334 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the sale, the general counsel owned 2,969 shares in the company, valued at $723,456.23. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Mathias Eaton sold 517 shares of AppFolio stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the transaction, the chief financial officer owned 10,104 shares of the company’s stock, valued at $2,307,147.36. This represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 8,745 shares of company stock worth $2,097,550. Insiders own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of AppFolio in a research report on Thursday, January 15th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods lowered their price objective on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. UBS Group set a $260.00 price objective on shares of AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, DA Davidson decreased their target price on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.83.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.