New York State Teachers Retirement System Raises Stake in AppFolio, Inc. (NASDAQ:APPF)

New York State Teachers Retirement System lifted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 80.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,773 shares of the software maker's stock after acquiring an additional 3,922 shares during the quarter. New York State Teachers Retirement System's holdings in AppFolio were worth $1,929,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APPF. Jones Financial Companies Lllp lifted its holdings in shares of AppFolio by 60.4% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker's stock worth $61,000 after acquiring an additional 93 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of AppFolio by 7.5% in the 4th quarter. Assetmark Inc. now owns 2,570 shares of the software maker's stock worth $634,000 after acquiring an additional 179 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of AppFolio by 14.5% in the 4th quarter. Atria Investments Inc now owns 1,056 shares of the software maker's stock worth $261,000 after acquiring an additional 134 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of AppFolio in the 4th quarter worth approximately $7,061,000. Finally, Arizona State Retirement System lifted its holdings in shares of AppFolio by 3.7% in the 4th quarter. Arizona State Retirement System now owns 6,334 shares of the software maker's stock worth $1,563,000 after acquiring an additional 227 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Price Performance

Shares of APPF traded up $0.68 during midday trading on Thursday, reaching $247.07. The stock had a trading volume of 46,324 shares, compared to its average volume of 267,753. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The company's fifty day simple moving average is $220.81 and its two-hundred day simple moving average is $225.86. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 46.05 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $220.95 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. AppFolio's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APPF. Piper Sandler restated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut 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. Finally, DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $274.43.

Insiders Place Their Bets

In related news, insider Elizabeth Erin Barat sold 4,682 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $227.79, for a total value of $1,066,512.78. Following the transaction, the insider directly owned 17,926 shares of the company's stock, valued at $4,083,363.54. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Donald Casey III bought 4,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average cost of $217.73 per share, for a total transaction of $870,920.00. Following the completion of the transaction, the director directly owned 27,856 shares in the company, valued at approximately $6,065,086.88. The trade was 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 acquired 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Company insiders own 4.68% of the company's stock.

AppFolio Company 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.