Sax Wealth Advisors LLC Lowers Stake in AppFolio, Inc. (NASDAQ:APPF)

Sax Wealth Advisors LLC decreased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,002 shares of the software maker’s stock after selling 197 shares during the period. Sax Wealth Advisors LLC’s holdings in AppFolio were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of AppFolio by 8.2% during the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after acquiring an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in AppFolio by 82.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker’s stock valued at $108,116,000 after buying an additional 207,204 shares during the period. Geode Capital Management LLC raised its position in AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock valued at $97,252,000 after purchasing an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. lifted its stake in AppFolio by 10.1% in the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock worth $82,788,000 after acquiring an additional 32,181 shares during the period. Finally, Franklin Resources Inc. increased its holdings in AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker’s stock valued at $51,800,000 after buying an additional 54,386 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity

In other news, Director Scanlan Agnes Bundy sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total value of $127,710.00. Following the sale, the director now directly owns 5,416 shares of the company’s stock, valued at approximately $1,383,354.72. The trade was a 8.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock worth $5,744,891 over the last ninety days. Corporate insiders own 5.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on APPF shares. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler cut shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $268.57.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $251.92 on Monday. The firm has a market cap of $9.15 billion, a PE ratio of 70.17 and a beta of 0.87. The firm has a fifty day moving average of $249.85 and a 200 day moving average of $235.58. AppFolio, Inc. has a one year low of $172.98 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities analysts predict that AppFolio, Inc. will post 3.23 EPS 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.