Bank of New York Mellon Corp Buys 5,270 Shares of AppFolio, Inc. (NASDAQ:APPF)

Bank of New York Mellon Corp lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 207,136 shares of the software maker’s stock after purchasing an additional 5,270 shares during the period. Bank of New York Mellon Corp owned 0.57% of AppFolio worth $51,105,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in AppFolio by 16.1% during the third quarter. State of Alaska Department of Revenue now owns 2,670 shares of the software maker’s stock valued at $628,000 after purchasing an additional 370 shares in the last quarter. New York State Teachers Retirement System raised its position in AppFolio by 36.0% in the 3rd quarter. New York State Teachers Retirement System now owns 5,456 shares of the software maker’s stock worth $1,284,000 after purchasing an additional 1,443 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of AppFolio by 6.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,581 shares of the software maker’s stock valued at $843,000 after acquiring an additional 207 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of AppFolio during the 3rd quarter valued at $2,467,000. Finally, Amalgamated Bank grew its holdings in shares of AppFolio by 2.7% in the 3rd quarter. Amalgamated Bank now owns 11,236 shares of the software maker’s stock valued at $2,645,000 after buying an additional 291 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the transaction, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total transaction of $178,850.00. Following the transaction, the insider now owns 27,566 shares of the company’s stock, valued at $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,184 shares of company stock worth $2,244,915. 5.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APPF shares. KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note on Friday, January 10th. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Stephens reissued an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Finally, Piper Sandler restated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, AppFolio currently has a consensus rating of “Hold” and a consensus price target of $276.29.

AppFolio Price Performance

Shares of AppFolio stock opened at $223.97 on Thursday. The company’s 50 day moving average price is $236.69 and its two-hundred day moving average price is $233.70. The firm has a market capitalization of $8.15 billion, a P/E ratio of 40.35 and a beta of 0.88. AppFolio, Inc. has a fifty-two week low of $189.01 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current year.

AppFolio 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.