Axxcess Wealth Management LLC Purchases New Stake in AppFolio, Inc. (NASDAQ:APPF)

Axxcess Wealth Management LLC purchased a new stake in AppFolio, Inc. (NASDAQ:APPF) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 840 shares of the software maker’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in AppFolio by 42.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,000 shares of the software maker’s stock worth $4,935,000 after acquiring an additional 6,000 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of AppFolio by 11.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker’s stock worth $10,243,000 after buying an additional 4,131 shares during the period. American International Group Inc. boosted its position in shares of AppFolio by 280.7% during the first quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock worth $8,973,000 after buying an additional 26,815 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after buying an additional 4,445 shares during the period. Finally, Davis R M Inc. purchased a new position in shares of AppFolio during the first quarter worth $247,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APPF. JPMorgan Chase & Co. raised their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday. DA Davidson lifted their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stephens restated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $277.75.

AppFolio Trading Down 10.9 %

Shares of AppFolio stock opened at $230.95 on Friday. The business’s 50 day simple moving average is $242.53 and its 200-day simple moving average is $231.18. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 111.57 and a beta of 0.80. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. AppFolio had a return on equity of 29.03% and a net margin of 17.32%. The business had revenue of $197.38 million during the quarter, compared to analyst estimates of $190.57 million. During the same period in the prior year, the company posted ($0.53) EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. Sell-side analysts predict that AppFolio, Inc. will post 2.9 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the transaction, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the transaction, the director now directly owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 4,462 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total value of $1,165,429.78. Following the transaction, the insider now directly owns 49,784 shares of the company’s stock, valued at $13,003,082.96. The disclosure for this sale can be found here. Insiders sold 130,444 shares of company stock valued at $31,124,559 in the last three months. 9.15% of the stock is currently owned by corporate insiders.

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.