State of Tennessee Department of Treasury Has $2.20 Million Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

State of Tennessee Department of Treasury lifted its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,923 shares of the software maker's stock after buying an additional 3,923 shares during the quarter. State of Tennessee Department of Treasury's holdings in AppFolio were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its stake in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of AppFolio during the fourth quarter valued at about $50,000. Aster Capital Management DIFC Ltd lifted its stake in shares of AppFolio by 10,300.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after buying an additional 206 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after buying an additional 208 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in AppFolio by 60.4% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock valued at $61,000 after acquiring an additional 93 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now owns 83,824 shares of the company's stock, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander Wolf acquired 9,678 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the purchase, the director now owns 3,226 shares of the company's stock, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is owned by company insiders.

Analyst Ratings Changes

APPF has been the topic of several recent research reports. 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. DA Davidson decreased their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. William Blair reissued an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Finally, Stephens reaffirmed an "overweight" rating and set a $295.00 price objective on shares of AppFolio in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $274.43.

AppFolio Stock Performance

AppFolio stock traded up $5.43 on Friday, reaching $212.06. The company's stock had a trading volume of 244,348 shares, compared to its average volume of 270,146. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 38.21 and a beta of 0.86. The business's fifty day moving average price is $217.27 and its 200 day moving average price is $230.30.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 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 company had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same period in the prior year, the company earned $1.05 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that AppFolio, Inc. will post 3.96 earnings per share 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.