VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3 Million in AppFolio, Inc. $APPF

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in AppFolio, Inc. (NASDAQ:APPF) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 18,731 shares of the software maker’s stock, valued at approximately $3,004,000.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the period. Optiver Holding B.V. grew its position in AppFolio by 827.8% during the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares during the last quarter. Advisory Services Network LLC acquired a new stake in AppFolio during the third quarter worth about $55,000. Finally, Employees Retirement System of Texas purchased a new position in shares of AppFolio in the 3rd quarter worth about $58,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio Stock Performance

Shares of NASDAQ:APPF opened at $205.76 on Friday. The company has a market cap of $7.29 billion, a P/E ratio of 46.98 and a beta of 0.85. AppFolio, Inc. has a one year low of $142.56 and a one year high of $285.61. The business’s 50-day simple moving average is $196.14 and its 200 day simple moving average is $174.75.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The firm had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.AppFolio’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Analysts predict that AppFolio, Inc. will post 5.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APPF. Zacks Research upgraded AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th. DA Davidson set a $225.00 price objective on shares of AppFolio in a research note on Friday, July 24th. Finally, Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, AppFolio currently has an average rating of “Buy” and an average price target of $243.50.

Insider Activity at AppFolio

In other news, major shareholder Maurice Duca sold 7,200 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $181.72, for a total value of $1,308,384.00. Following the completion of the transaction, the insider directly owned 34,198 shares in the company, valued at approximately $6,214,460.56. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 176,217 shares of company stock worth $34,157,323 over the last 90 days. Insiders own 1.57% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc provides cloud-based software and technology solutions for the real estate industry. Its platform is designed to help property managers and real estate businesses manage core operations, including accounting, leasing, maintenance, communications, payments, reporting and resident services.

The company’s AppFolio Property Manager platform serves a range of property types, including residential, commercial, student housing and community associations. AppFolio also offers solutions for real estate investment management, along with workflow automation, data and reporting tools, online payment processing and other services intended to help customers operate more efficiently and improve the experience for owners, residents and tenants.

AppFolio was founded in 2006 and is headquartered in Santa Barbara, California.