AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,656 shares of the software maker's stock after buying an additional 2,044 shares during the period. Azzad Asset Management Inc. ADV's holdings in AppFolio were worth $2,136,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of APPF. Exchange Traded Concepts LLC increased its stake in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock valued at $158,000 after purchasing an additional 40 shares in the last quarter. Independent Advisor Alliance grew its holdings in AppFolio by 2.1% during the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock valued at $643,000 after buying an additional 53 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock valued at $2,457,000 after buying an additional 60 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in AppFolio by 11.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after buying an additional 65 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in AppFolio by 4.7% during the 4th quarter. Tidal Investments LLC now owns 1,492 shares of the software maker's stock valued at $368,000 after buying an additional 67 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Trading Down 0.0%

NASDAQ:APPF traded down $0.10 during mid-day trading on Friday, hitting $209.32. The company had a trading volume of 300,176 shares, compared to its average volume of 271,929. The business has a fifty day simple moving average of $215.81 and a 200-day simple moving average of $230.42. AppFolio, Inc. has a 1 year low of $189.01 and a 1 year high of $274.56. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 37.72 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results 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 business had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In related news, CFO Timothy Mathias Eaton sold 1,057 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the completion of the sale, the chief financial officer now directly owns 7,176 shares of the company's stock, valued at $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Shane Trigg sold 5,900 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 70,647 shares of the company's stock, valued at approximately $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler restated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. DA Davidson upgraded AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

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.