Caisse DE Depot ET Placement DU Quebec Invests $6.95 Million in AppFolio, Inc. (NASDAQ:APPF)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 28,151 shares of the software maker's stock, valued at approximately $6,945,000. Caisse DE Depot ET Placement DU Quebec owned 0.08% of AppFolio at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its stake in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock worth $158,000 after purchasing an additional 40 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of AppFolio by 2.1% in the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker's stock worth $643,000 after purchasing an additional 53 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of AppFolio by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker's stock worth $2,457,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker's stock valued at $152,000 after purchasing an additional 65 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of 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 buying an additional 93 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Trading Up 0.0 %

Shares of NASDAQ:APPF traded up $0.03 during trading on Friday, reaching $215.78. The company's stock had a trading volume of 84,912 shares, compared to its average volume of 269,533. The firm's 50 day simple moving average is $217.39 and its two-hundred day simple moving average is $230.73. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56. The stock has a market capitalization of $7.77 billion, a PE ratio of 38.88 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. 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 firm posted $1.05 EPS. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio 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 transaction of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the transaction, the director now owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. 5.24% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. DA Davidson cut their target price on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, Stephens restated an "overweight" rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, AppFolio currently has an average rating of "Hold" and a consensus price target of $274.43.

AppFolio 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.