New York State Common Retirement Fund Sells 735 Shares of AppFolio, Inc. $APPF

New York State Common Retirement Fund decreased its position in AppFolio, Inc. (NASDAQ:APPF) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 224,737 shares of the software maker’s stock after selling 735 shares during the period. New York State Common Retirement Fund’s holdings in AppFolio were worth $51,752,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APPF. Norges Bank bought a new position in AppFolio during the second quarter worth about $34,425,000. Sellaronda Global Management LP increased its holdings in shares of AppFolio by 6.3% in the second quarter. Sellaronda Global Management LP now owns 85,000 shares of the software maker’s stock worth $19,574,000 after acquiring an additional 5,000 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of AppFolio by 1.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 16,772 shares of the software maker’s stock worth $3,862,000 after purchasing an additional 211 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of AppFolio during the 2nd quarter valued at about $55,000. Finally, Russell Investments Group Ltd. grew its position in shares of AppFolio by 1.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 70,407 shares of the software maker’s stock valued at $16,213,000 after purchasing an additional 702 shares during the period. Institutional investors own 85.19% of the company’s stock.

AppFolio Trading Up 0.1%

Shares of APPF stock opened at $228.28 on Friday. The firm’s fifty day moving average price is $245.23 and its two-hundred day moving average price is $248.61. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04. The firm has a market capitalization of $8.20 billion, a P/E ratio of 40.98 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.14). The company had revenue of $249.35 million during the quarter, compared to the consensus estimate of $245.39 million. AppFolio had a net margin of 22.48% and a return on equity of 25.97%. AppFolio’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, insider Matthew S. Mazza sold 1,636 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the completion of the sale, the insider owned 25,015 shares of the company’s stock, valued at approximately $6,928,654.70. This represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Janet Kerr sold 2,500 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $285.04, for a total transaction of $712,600.00. Following the completion of the transaction, the director directly owned 11,995 shares of the company’s stock, valued at $3,419,054.80. This represents a 17.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,245 shares of company stock valued at $4,754,059. 4.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APPF has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $325.00 target price on shares of AppFolio in a report on Wednesday, November 19th. KeyCorp dropped their price objective on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AppFolio in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price for the company in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.20.

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.