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

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

Several other large investors have also recently made changes to their positions in the business. Independent Advisor Alliance grew its stake in shares of AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after buying an additional 53 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in AppFolio by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after acquiring an additional 60 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of AppFolio by 4.7% during the fourth quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after acquiring an additional 67 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of AppFolio by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 1,126 shares of the software maker's stock valued at $278,000 after acquiring an additional 81 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APPF shares. DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AppFolio has an average rating of "Moderate Buy" and a consensus price target of $274.43.

Insider Buying and Selling at AppFolio

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the firm's 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 transaction, the insider now owns 17,926 shares of the company's stock, valued at approximately $4,083,363.54. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the sale, the chief executive officer now owns 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Trading Down 3.1%

NASDAQ:APPF traded down $6.96 during mid-day trading on Tuesday, reaching $220.62. The company's stock had a trading volume of 259,634 shares, compared to its average volume of 275,879. The stock has a market cap of $7.95 billion, a P/E ratio of 41.16 and a beta of 0.87. The firm's fifty day moving average price is $216.04 and its two-hundred day moving average price is $228.68. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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.