Public Employees Retirement System of Ohio Acquires 442 Shares of AppFolio, Inc. (NASDAQ:APPF)

Public Employees Retirement System of Ohio increased its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,824 shares of the software maker’s stock after purchasing an additional 442 shares during the period. Public Employees Retirement System of Ohio’s holdings in AppFolio were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APPF. Blue Trust Inc. raised its holdings in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares during the period. CWM LLC raised its holdings in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the period. Quarry LP boosted its stake in AppFolio by 147.9% in the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares during the period. Finally, True Wealth Design LLC bought a new position in AppFolio during the 3rd quarter worth about $79,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Trading Down 0.8 %

NASDAQ APPF opened at $261.51 on Wednesday. The firm’s fifty day moving average price is $232.46 and its two-hundred day moving average price is $233.25. AppFolio, Inc. has a 1 year low of $164.29 and a 1 year high of $274.56. The firm has a market capitalization of $9.50 billion, a P/E ratio of 72.84 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the prior year, the firm earned $0.26 EPS. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, research analysts anticipate that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler lowered their price objective on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average price target of $261.75.

Insider Transactions at AppFolio

In other news, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the sale, the insider now directly owns 27,566 shares of the company’s stock, valued at approximately $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,606 shares of company stock worth $7,117,857. 5.24% of the stock is owned by insiders.

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.