AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 16.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 177,831 shares of the software maker's stock after buying an additional 24,697 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of AppFolio worth $41,861,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker's stock valued at $1,420,000 after purchasing an additional 49 shares during the period. Blue Trust Inc. grew its holdings in AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock worth $29,000 after acquiring an additional 54 shares during the period. ProShare Advisors LLC grew its holdings in AppFolio by 2.9% during the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker's stock worth $888,000 after acquiring an additional 102 shares during the period. CWM LLC grew its holdings in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after acquiring an additional 105 shares during the period. Finally, GAMMA Investing LLC grew its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock worth $32,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 62.34% of the company's stock.

AppFolio Trading Up 2.3 %

NASDAQ:APPF traded up $5.27 on Monday, hitting $233.47. 221,677 shares of the stock were exchanged, compared to its average volume of 314,585. The stock has a market cap of $8.48 billion, a PE ratio of 65.03 and a beta of 0.83. The stock has a fifty day moving average of $221.34 and a 200-day moving average of $231.19. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The firm's revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, analysts predict that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $221.22, for a total transaction of $524,512.62. Following the completion of the sale, the insider now directly owns 39,980 shares in the company, valued at $8,844,375.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 2,371 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the sale, the insider now owns 39,980 shares of the company's stock, valued at approximately $8,844,375.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,652 shares of company stock worth $4,053,818 over the last three months. 5.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on APPF. KeyCorp dropped their price objective on AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. DA Davidson upped their price objective on AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com downgraded AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on AppFolio from $260.00 to $328.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods downgraded AppFolio from a "market perform" rating to an "underperform" rating and decreased their target price for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.75.

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.