AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 78.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,923 shares of the software maker’s stock after purchasing an additional 3,923 shares during the period. State of Tennessee Department of Treasury’s holdings in AppFolio were worth $2,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its position in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock valued at $158,000 after purchasing an additional 40 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of AppFolio by 2.1% during the 4th quarter. Independent Advisor Alliance now owns 2,607 shares of the software maker’s stock valued at $643,000 after acquiring an additional 53 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of AppFolio by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,960 shares of the software maker’s stock valued at $2,457,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC raised its position in shares of AppFolio by 11.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock worth $152,000 after purchasing an additional 65 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of AppFolio by 60.4% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the software maker’s stock worth $61,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the sale, the chief executive officer now directly owns 83,824 shares in the company, valued at approximately $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander Wolf bought 9,678 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the transaction, the director now directly owns 3,226 shares of the company’s stock, valued at $692,977.06. This trade represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 5.24% of the company’s stock.

Wall Street Analyst Weigh In

APPF has been the subject of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. DA Davidson lowered their price objective on AppFolio from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, April 14th. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. Keefe, Bruyette & Woods reduced their price objective on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Stephens reaffirmed an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $274.43.

AppFolio Stock Performance

APPF opened at $201.49 on Tuesday. The company has a market capitalization of $7.34 billion, a PE ratio of 36.30 and a beta of 0.86. The stock’s fifty day moving average is $217.79 and its 200-day moving average is $230.80. AppFolio, Inc. has a one year low of $189.01 and a one year high of $274.56.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

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.