New York State Common Retirement Fund raised its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,472 shares of the software maker's stock after acquiring an additional 42,631 shares during the period. New York State Common Retirement Fund owned about 0.62% of AppFolio worth $49,581,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of AppFolio by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker's stock valued at $615,696,000 after purchasing an additional 91,174 shares in the last quarter. AQR Capital Management LLC raised its stake in AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after buying an additional 197,700 shares during the period. FMR LLC grew its position in shares of AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock valued at $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker's stock valued at $141,350,000 after purchasing an additional 25,566 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of AppFolio in the fourth quarter valued at approximately $103,503,000. 85.19% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at AppFolio
In other AppFolio news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the transaction, the chief executive officer owned 70,647 shares of the company's stock, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Donald Casey III bought 4,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director owned 27,856 shares in the company, valued at approximately $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.
AppFolio Trading Down 3.1%
Shares of AppFolio stock opened at $237.68 on Monday. The business has a 50-day moving average price of $222.09 and a two-hundred day moving average price of $225.36. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company has a market cap of $8.56 billion, a P/E ratio of 44.34 and a beta of 0.88.
AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 23.87% and a return on equity of 25.83%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a research note on Wednesday, April 23rd. Finally, DA Davidson raised AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of "Moderate Buy" and an average target price of $274.43.
Read Our Latest Analysis on AppFolio
About AppFolio
(
Free Report)
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.
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