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Principal Financial Group Inc. Increases Holdings in AppFolio, Inc. (NASDAQ:APPF)

AppFolio logo with Computer and Technology background

Principal Financial Group Inc. grew its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 121.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 401,888 shares of the software maker's stock after purchasing an additional 220,239 shares during the quarter. Principal Financial Group Inc. owned approximately 1.10% of AppFolio worth $88,375,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC bought a new position in shares of AppFolio during the 4th quarter valued at about $28,000. Fifth Third Bancorp increased its position in shares of AppFolio by 53.0% during the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Versant Capital Management Inc increased its position in shares of AppFolio by 4,975.0% during the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after purchasing an additional 199 shares during the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of AppFolio by 10,300.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after purchasing an additional 206 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in AppFolio by 1,485.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock worth $55,000 after acquiring an additional 208 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APPF has been the topic of several recent research reports. 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. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, 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. 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 given a strong buy rating to the company. According to MarketBeat.com, AppFolio presently has an average rating of "Moderate Buy" and a consensus target price of $274.43.

View Our Latest Analysis on APPF

Insider Buying and Selling

In other news, CFO Timothy Mathias Eaton sold 1,057 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $221.13, for a total value of $233,734.41. Following the completion of the transaction, the chief financial officer owned 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction 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 transaction, the chief executive officer owned 70,647 shares of the company's stock, valued at $14,938,308.15. The trade was a 7.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. 4.68% of the stock is owned by company insiders.

AppFolio Trading Up 0.5%

Shares of APPF stock traded up $1.28 during trading hours on Tuesday, reaching $242.05. The company's stock had a trading volume of 114,679 shares, compared to its average volume of 267,576. The stock has a market capitalization of $8.72 billion, a P/E ratio of 45.16 and a beta of 0.88. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56. The firm's fifty day simple moving average is $219.22 and its 200 day simple moving average is $225.60.

AppFolio (NASDAQ:APPF - Get Free Report) last issued 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). The business had revenue of $217.70 million during the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 25.83% and a net margin of 23.87%. AppFolio's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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