Azzad Asset Management Inc. ADV Grows Position in AppFolio, Inc. (NASDAQ:APPF)

Azzad Asset Management Inc. ADV grew its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 78.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,479 shares of the software maker's stock after purchasing an additional 6,823 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in AppFolio were worth $3,404,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Colonial Trust Co SC acquired a new stake in AppFolio during the fourth quarter worth about $28,000. Fifth Third Bancorp boosted its position in AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after buying an additional 62 shares during the period. Arcadia Investment Management Corp MI bought a new position in AppFolio during the 4th quarter worth approximately $50,000. Versant Capital Management Inc raised its holdings in AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock worth $45,000 after purchasing an additional 199 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after purchasing an additional 206 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APPF has been the subject of several research analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods reduced their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $274.43.

Insider Activity

In other AppFolio news, Director Timothy K. Bliss purchased 7,500 shares of the stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $217.02 per share, for a total transaction of $1,627,650.00. Following the completion of the transaction, the director now owns 7,500 shares of the company's stock, valued at $1,627,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the sale, the insider now directly owns 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company's stock.

AppFolio Price Performance

Shares of APPF traded up $2.25 during midday trading on Monday, hitting $227.82. 86,320 shares of the company traded hands, compared to its average volume of 274,919. The stock has a 50-day moving average of $215.81 and a 200-day moving average of $228.92. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The firm has a market cap of $8.21 billion, a P/E ratio of 41.14 and a beta of 0.87.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The firm had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. During the same quarter last year, the company posted $1.05 EPS. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that AppFolio, Inc. will post 3.96 EPS 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.