Teacher Retirement System of Texas Lowers Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Teacher Retirement System of Texas reduced its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,591 shares of the software maker's stock after selling 6,962 shares during the period. Teacher Retirement System of Texas' holdings in AppFolio were worth $2,989,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new stake in shares of AppFolio in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp grew its position in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Versant Capital Management Inc grew its position in shares of AppFolio by 4,975.0% in the first 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 in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of AppFolio by 10,300.0% in the fourth 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of AppFolio by 1,485.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 222 shares of the software maker's stock valued at $55,000 after purchasing an additional 208 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AppFolio news, CFO Timothy Mathias Eaton sold 1,057 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 7,176 shares in the company, valued at $1,586,828.88. This trade represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth Erin Barat sold 4,682 shares of the firm's 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 completion of the sale, the insider owned 17,926 shares in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 18,500 shares of company stock valued at $4,024,220 and sold 11,639 shares valued at $2,547,802. Corporate insiders own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

APPF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. DA Davidson upgraded AppFolio to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a report on Wednesday, April 23rd. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $274.43.

AppFolio Price Performance

Shares of NASDAQ APPF traded down $7.68 during mid-day trading on Friday, hitting $237.68. The company had a trading volume of 250,792 shares, compared to its average volume of 305,747. The company has a market capitalization of $8.56 billion, a PE ratio of 44.34 and a beta of 0.88. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The business's 50-day simple moving average is $221.58 and its 200 day simple moving average is $225.84.

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 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 business had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. During the same quarter in the prior year, the business earned $1.05 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts expect that AppFolio, Inc. will post 3.96 EPS for the current year.

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.