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

Principal Financial Group Inc. boosted its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 121.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,888 shares of the software maker's stock after acquiring an additional 220,239 shares during the quarter. Principal Financial Group Inc. owned 1.10% of AppFolio worth $88,375,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC bought a new position in AppFolio in the 4th quarter valued at about $28,000. Fifth Third Bancorp lifted its position in AppFolio by 53.0% in the 1st quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. Versant Capital Management Inc lifted its position in AppFolio by 4,975.0% in the 1st quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after acquiring an additional 199 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock valued at $51,000 after acquiring an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in AppFolio by 1,485.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 85.19% of the company's stock.

Insiders Place Their Bets

In other AppFolio news, Director Timothy K. Bliss acquired 7,500 shares of AppFolio stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $217.02 per share, for a total transaction of $1,627,650.00. Following the purchase, the director owned 7,500 shares of the company's stock, valued at approximately $1,627,650. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.13, for a total transaction of $233,734.41. Following the completion of the transaction, the chief financial officer owned 7,176 shares of the company's stock, valued at $1,586,828.88. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 18,500 shares of company stock worth $4,024,220 and sold 11,639 shares worth $2,547,802. 4.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Finally, Piper Sandler reissued a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppFolio has an average rating of "Moderate Buy" and an average target price of $274.43.

AppFolio Trading Up 0.9%

Shares of APPF stock traded up $2.26 during trading hours on Tuesday, hitting $243.03. 302,491 shares of the company were exchanged, compared to its average volume of 268,655. The firm has a fifty day simple moving average of $220.01 and a 200 day simple moving average of $225.72. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 45.34 and a beta of 0.88.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) 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 company had revenue of $217.70 million for the quarter, compared to analysts' expectations of $220.95 million. During the same quarter in the previous year, the business earned $1.05 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

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.