AppFolio, Inc. (NASDAQ:APPF) Holdings Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,950 shares of the software maker’s stock after acquiring an additional 2,047 shares during the period. Retirement Systems of Alabama’s holdings in AppFolio were worth $6,579,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APPF. Summit Global Investments acquired a new position in shares of AppFolio in the 3rd quarter valued at about $759,000. Captrust Financial Advisors increased its stake in AppFolio by 183.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,374 shares of the software maker’s stock valued at $1,030,000 after buying an additional 2,830 shares during the period. Baker Avenue Asset Management LP lifted its position in AppFolio by 16.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 21,483 shares of the software maker’s stock worth $5,057,000 after buying an additional 3,038 shares in the last quarter. TD Asset Management Inc lifted its position in AppFolio by 48.1% in the 2nd quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after buying an additional 2,600 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of AppFolio by 56.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after buying an additional 141 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $251.35 on Thursday. The business’s 50-day simple moving average is $232.98 and its 200-day simple moving average is $233.38. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 70.01 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The company had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter last year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on APPF shares. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp dropped their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Piper Sandler reduced their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, StockNews.com downgraded 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 assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AppFolio has an average rating of “Moderate Buy” and an average price target of $261.75.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $263.32, for a total value of $1,091,461.40. Following the sale, the chief executive officer now owns 73,682 shares of the company’s stock, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 completion of the transaction, the insider now directly owns 27,566 shares in the company, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,606 shares of company stock worth $7,117,857. 5.24% of the stock is owned by insiders.

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.