New York State Teachers Retirement System Acquires 3,922 Shares of AppFolio, Inc. (NASDAQ:APPF)

New York State Teachers Retirement System increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 80.8% during the 1st quarter, according to its most recent Form 13F 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 period. New York State Teachers Retirement System's holdings in AppFolio were worth $1,929,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 91,174 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of AppFolio by 43.2% during the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock worth $161,756,000 after purchasing an additional 197,700 shares during the last quarter. FMR LLC grew its stake in AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after purchasing an additional 536,591 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in 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 buying an additional 25,566 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in AppFolio during the fourth quarter valued at approximately $103,503,000. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the transaction, the chief financial officer directly owned 7,176 shares of the company's stock, valued at $1,586,828.88. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Donald Casey III bought 4,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was bought at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director directly owned 27,856 shares of the company's stock, 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. Over the last quarter, insiders acquired 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

AppFolio Trading Down 0.4%

Shares of NASDAQ:APPF traded down $1.03 during mid-day trading on Thursday, reaching $245.36. The stock had a trading volume of 192,664 shares, compared to its average volume of 268,773. The firm has a market cap of $8.84 billion, a PE ratio of 45.78 and a beta of 0.88. The firm has a 50 day simple moving average of $221.58 and a two-hundred day simple moving average of $225.84. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data 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 return on equity of 25.83% and a net margin of 23.87%. The firm had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same period in the prior year, the company earned $1.05 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APPF shares. 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 report on Friday, April 25th. Piper Sandler restated a "neutral" rating and set a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd. Finally, DA Davidson upgraded shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of "Moderate Buy" and an average 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.