Nisa Investment Advisors LLC Has $1.26 Million Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Nisa Investment Advisors LLC lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 833.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,749 shares of the software maker's stock after acquiring an additional 5,133 shares during the period. Nisa Investment Advisors LLC's holdings in AppFolio were worth $1,264,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of APPF. FMR LLC lifted 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 acquiring an additional 536,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in AppFolio during the fourth quarter worth about $103,503,000. Norges Bank acquired a new position in shares of AppFolio during the 4th quarter valued at about $68,037,000. Principal Financial Group Inc. grew its holdings in AppFolio by 121.2% in the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock valued at $88,375,000 after purchasing an additional 220,239 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of AppFolio by 43.2% in the 4th quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Transactions at AppFolio

In other news, insider Elizabeth Erin Barat sold 4,682 shares of AppFolio stock in a transaction dated 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 sale, the insider directly owned 17,926 shares in the company, valued at approximately $4,083,363.54. The trade was a 20.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 5,900 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the sale, the chief executive officer owned 70,647 shares in the company, valued at approximately $14,938,308.15. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Insiders own 4.68% of the company's stock.

AppFolio Stock Down 0.6%

NASDAQ:APPF traded down $1.45 during trading hours on Tuesday, reaching $240.60. 233,631 shares of the company's stock were exchanged, compared to its average volume of 267,583. The business's 50-day simple moving average is $222.09 and its two-hundred day simple moving average is $225.36. The company has a market capitalization of $8.67 billion, a P/E ratio of 44.89 and a beta of 0.88. AppFolio, Inc. has a 12 month low of $189.01 and a 12 month high of $274.56.

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 business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APPF. Keefe, Bruyette & Woods lowered their target price on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Piper Sandler reaffirmed a "neutral" rating and set a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. Finally, DA Davidson upgraded AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AppFolio presently has an average rating of "Moderate Buy" and an average target price of $274.43.

About AppFolio

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.