3,621 Shares in AppFolio, Inc. (NASDAQ:APPF) Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,621 shares of the software maker's stock, valued at approximately $852,000.

Several other large investors have also modified their holdings of APPF. Diversified Trust Co purchased a new position in shares of AppFolio during the 1st quarter worth about $619,000. State of Michigan Retirement System purchased a new position in AppFolio in the first quarter valued at approximately $1,209,000. Azzad Asset Management Inc. ADV raised its holdings in AppFolio by 38.3% in the first quarter. Azzad Asset Management Inc. ADV now owns 3,641 shares of the software maker's stock valued at $898,000 after buying an additional 1,009 shares during the period. State of Alaska Department of Revenue purchased a new position in AppFolio in the first quarter valued at approximately $567,000. Finally, Norden Group LLC purchased a new position in AppFolio in the first quarter valued at approximately $901,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 2,968 shares of AppFolio stock in a transaction on Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the transaction, the insider now owns 24,500 shares of the company's stock, valued at $5,754,315. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Maurice J. Duca sold 2,968 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the transaction, the insider now owns 24,500 shares of the company's stock, valued at approximately $5,754,315. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 1,296 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now directly owns 9,383 shares of the company's stock, valued at approximately $2,221,612.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock valued at $4,053,818 over the last 90 days. 9.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APPF shares. StockNews.com lowered shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods lowered shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler dropped their price objective on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Piper Sandler Companies reiterated an "overweight" rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Stock Performance

Shares of APPF stock traded down $9.76 during mid-day trading on Thursday, reaching $207.87. 278,762 shares of the company were exchanged, compared to its average volume of 281,769. The company has a market capitalization of $7.53 billion, a P/E ratio of 100.42 and a beta of 0.81. The business's 50 day simple moving average is $223.04 and its 200 day simple moving average is $230.78. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm's revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, analysts forecast that AppFolio, Inc. will post 3.04 EPS for the current 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.