New York State Teachers Retirement System Raises Position in AppFolio, Inc. (NASDAQ:APPF)

New York State Teachers Retirement System increased its holdings in AppFolio, Inc. (NASDAQ:APPF) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,456 shares of the software maker’s stock after purchasing an additional 1,443 shares during the period. New York State Teachers Retirement System’s holdings in AppFolio were worth $1,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in APPF. American International Group Inc. grew its holdings in AppFolio by 280.7% in the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after buying an additional 26,815 shares during the period. Texas Permanent School Fund Corp purchased a new stake in AppFolio in the first quarter valued at approximately $4,415,000. Ameritas Investment Partners Inc. increased its position in AppFolio by 223.5% during the first quarter. Ameritas Investment Partners Inc. now owns 6,434 shares of the software maker’s stock worth $1,588,000 after purchasing an additional 4,445 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in AppFolio during the first quarter worth approximately $839,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of AppFolio by 750.5% in the 1st quarter. Lazard Asset Management LLC now owns 9,211 shares of the software maker’s stock valued at $2,271,000 after purchasing an additional 8,128 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler cut their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. DA Davidson boosted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. One 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’s stock. According to data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

AppFolio Trading Down 0.1 %

Shares of AppFolio stock opened at $228.20 on Friday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market cap of $8.29 billion, a PE ratio of 63.57 and a beta of 0.83. The company’s 50-day moving average price is $221.31 and its two-hundred day moving average price is $230.97.

AppFolio (NASDAQ:APPF) last announced its 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 business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the business posted $0.26 earnings per share. AppFolio’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts predict that AppFolio, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $234.87, for a total value of $697,094.16. Following the completion of the transaction, the insider now directly owns 24,500 shares in the company, valued at $5,754,315. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,652 shares of company stock valued at $4,053,818 over the last three months. 5.24% of the stock is owned by corporate 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.