Mutual of America Capital Management LLC Sells 500 Shares of AppFolio, Inc. $APPF

Mutual of America Capital Management LLC lowered its position in AppFolio, Inc. (NASDAQ:APPF) by 4.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,462 shares of the software maker’s stock after selling 500 shares during the period. Mutual of America Capital Management LLC’s holdings in AppFolio were worth $2,639,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of AppFolio by 80.8% in the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock worth $1,929,000 after purchasing an additional 3,922 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of AppFolio in the 1st quarter worth approximately $420,000. Janney Montgomery Scott LLC acquired a new position in shares of AppFolio in the 1st quarter worth approximately $305,000. Oppenheimer Asset Management Inc. lifted its position in shares of AppFolio by 34.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker’s stock worth $1,110,000 after purchasing an additional 1,304 shares during the period. Finally, Northern Trust Corp lifted its position in shares of AppFolio by 0.8% in the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after purchasing an additional 1,493 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Transactions at AppFolio

In related news, insider Matthew S. Mazza sold 1,636 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $276.98, for a total value of $453,139.28. Following the sale, the insider directly owned 25,015 shares of the company’s stock, valued at $6,928,654.70. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $275.57, for a total transaction of $688,925.00. Following the completion of the sale, the insider directly owned 55,795 shares in the company, valued at $15,375,428.15. This represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,803 shares of company stock valued at $16,938,949. Company insiders own 4.68% of the company’s stock.

AppFolio Stock Performance

APPF opened at $242.68 on Friday. The firm has a market cap of $8.70 billion, a P/E ratio of 43.81 and a beta of 0.83. AppFolio, Inc. has a fifty-two week low of $190.24 and a fifty-two week high of $326.04. The firm has a 50-day moving average of $262.96 and a 200 day moving average of $243.88.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The firm had revenue of $235.58 million during the quarter, compared to analyst estimates of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business earned $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. Equities research analysts predict that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APPF shares. DA Davidson reiterated a “buy” rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a research report on Friday. Keefe, Bruyette & Woods upgraded shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price on the stock in a research report on Friday. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Finally, KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a report on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $318.20.

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.