AppFolio, Inc. (NASDAQ:APPF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,962 shares of the software maker’s stock after selling 229 shares during the period. Mutual of America Capital Management LLC’s holdings in AppFolio were worth $2,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in APPF. FMR LLC lifted its stake in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after buying an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of AppFolio during the fourth quarter worth $103,503,000. Norges Bank acquired a new stake in shares of AppFolio during the fourth quarter worth $68,037,000. Principal Financial Group Inc. lifted its stake in shares of AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after buying an additional 220,239 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock worth $161,756,000 after buying an additional 197,700 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the transaction, the chief executive officer owned 70,647 shares of the company’s stock, valued at approximately $14,938,308.15. The trade was a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Donald Casey III acquired 4,000 shares of the business’s stock in a transaction on Friday, June 6th. The stock was purchased at an average cost of $217.73 per share, with a total value of $870,920.00. Following the acquisition, the director directly owned 27,856 shares of the company’s stock, valued at $6,065,086.88. This represents a 16.77% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. 4.68% of the stock is currently owned by company insiders.

AppFolio Price Performance

Shares of AppFolio stock opened at $250.95 on Friday. The firm has a fifty day moving average price of $225.31 and a 200 day moving average price of $225.63. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The stock has a market cap of $9.04 billion, a PE ratio of 46.82 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The business had revenue of $217.70 million for the quarter, compared to analysts’ expectations of $220.95 million. During the same period last year, the business earned $1.05 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Piper Sandler lifted their price objective on shares of AppFolio from $208.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, DA Davidson raised shares of AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and an average target price of $261.33.

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.