Bank of New York Mellon Corp Purchases 1,183 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bank of New York Mellon Corp lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,319 shares of the software maker's stock after acquiring an additional 1,183 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of AppFolio worth $45,809,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after purchasing an additional 220,239 shares during the period. Oregon Public Employees Retirement Fund increased its position in AppFolio by 2.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 4,762 shares of the software maker's stock valued at $1,047,000 after acquiring an additional 100 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in AppFolio by 113.1% in the first quarter. First Horizon Advisors Inc. now owns 554 shares of the software maker's stock valued at $122,000 after acquiring an additional 294 shares during the period. New York State Teachers Retirement System grew its stake in shares of AppFolio by 80.8% during the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker's stock valued at $1,929,000 after purchasing an additional 3,922 shares during the period. Finally, Lecap Asset Management Ltd. increased its position in shares of AppFolio by 114.7% during the 1st quarter. Lecap Asset Management Ltd. now owns 8,842 shares of the software maker's stock valued at $1,944,000 after purchasing an additional 4,723 shares during the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Trading Down 0.6%

APPF traded down $1.45 on Tuesday, hitting $240.60. 233,631 shares of the company's stock were exchanged, compared to its average volume of 267,465. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 44.89 and a beta of 0.88. The firm has a 50-day moving average price of $222.09 and a 200-day moving average price of $225.36.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly 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 23.87% and a return on equity of 25.83%. The firm had revenue of $217.70 million during the quarter, compared to analysts' expectations of $220.95 million. During the same period last year, the company earned $1.05 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts predict that AppFolio, Inc. will post 3.96 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on APPF shares. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppFolio currently has an average rating of "Moderate Buy" and an average price target of $274.43.

Insider Buying and Selling

In other AppFolio news, Director Timothy K. Bliss purchased 7,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $217.02 per share, with a total value of $1,627,650.00. Following the acquisition, the director directly owned 7,500 shares of the company's stock, valued at approximately $1,627,650. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total transaction of $1,066,512.78. Following the completion of the transaction, the insider owned 17,926 shares in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 18,500 shares of company stock valued at $4,024,220 and have sold 11,639 shares valued at $2,547,802. Insiders own 4.68% of the company's stock.

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.