AppFolio, Inc. $APPF Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,245,949 shares of the software maker's stock after purchasing an additional 79,197 shares during the period. Principal Financial Group Inc. owned 3.47% of AppFolio worth $289,880,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Hudson Way Capital Management LLC acquired a new stake in shares of AppFolio during the third quarter worth $53,367,000. Vanguard Group Inc. boosted its holdings in shares of AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker's stock worth $595,691,000 after purchasing an additional 101,466 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of AppFolio by 1,643.8% during the fourth quarter. M&T Bank Corp now owns 96,153 shares of the software maker's stock worth $22,370,000 after purchasing an additional 90,639 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of AppFolio by 26.1% during the third quarter. Invesco Ltd. now owns 395,651 shares of the software maker's stock worth $109,065,000 after purchasing an additional 81,778 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AppFolio by 263.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 109,089 shares of the software maker's stock worth $25,622,000 after purchasing an additional 79,069 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded AppFolio from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. UBS Group set a $210.00 target price on shares of AppFolio in a research report on Friday, April 24th. Piper Sandler decreased their target price on shares of AppFolio from $245.00 to $210.00 and set an "overweight" rating on the stock in a research report on Friday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $311.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, January 30th. Finally, DA Davidson decreased their target price on shares of AppFolio from $325.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, AppFolio has a consensus rating of "Moderate Buy" and an average target price of $252.29.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.68% of the stock is currently owned by corporate insiders.

AppFolio Trading Down 0.5%

Shares of APPF stock opened at $172.76 on Wednesday. The company has a market cap of $6.11 billion, a PE ratio of 41.13 and a beta of 0.82. The company's fifty day simple moving average is $165.62 and its 200-day simple moving average is $203.40. AppFolio, Inc. has a 52 week low of $142.73 and a 52 week high of $326.04.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.14. The business had revenue of $262.21 million for the quarter, compared to analyst estimates of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. Equities research analysts expect that AppFolio, Inc. will post 5.04 EPS for the current fiscal year.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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