New York State Common Retirement Fund Lowers Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund lowered its holdings in AppFolio, Inc. (NASDAQ:APPF) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,841 shares of the software maker’s stock after selling 6,081 shares during the quarter. New York State Common Retirement Fund’s holdings in AppFolio were worth $45,111,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at about $79,000. Advisors Asset Management Inc. raised its holdings in shares of AppFolio by 56.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $92,000 after purchasing an additional 141 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of AppFolio in the 4th quarter valued at about $99,000. Institutional investors own 85.19% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several recent research reports. Stephens restated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, KeyCorp lowered shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $276.29.

AppFolio Trading Up 1.1 %

NASDAQ:APPF opened at $214.89 on Thursday. The company has a market cap of $7.82 billion, a PE ratio of 38.72 and a beta of 0.88. AppFolio, Inc. has a twelve month low of $189.01 and a twelve month high of $274.56. The company’s 50 day moving average is $244.26 and its two-hundred day moving average is $233.57.

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

Insiders Place Their Bets

In other AppFolio news, Director Alexander Wolf acquired 9,678 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the acquisition, the director now directly owns 3,226 shares of the company’s stock, valued at approximately $692,977.06. The trade was a -150.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William Shane Trigg sold 4,145 shares of the company’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 11,521 shares of company stock valued at $2,921,870. Insiders own 5.24% of the company’s stock.

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.