AppFolio, Inc. (NASDAQ:APPF) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 7.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,950 shares of the software maker's stock after purchasing an additional 2,047 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of AppFolio worth $6,579,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Squarepoint Ops LLC boosted its holdings in AppFolio by 188.2% during the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock worth $45,254,000 after buying an additional 120,835 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of AppFolio by 516.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker's stock worth $26,866,000 after acquiring an additional 92,034 shares in the last quarter. FMR LLC grew its position in shares of AppFolio by 998.0% during the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker's stock valued at $14,334,000 after acquiring an additional 55,348 shares during the period. Franklin Resources Inc. increased its stake in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after purchasing an additional 54,386 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in AppFolio in the 2nd quarter worth about $12,993,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

APPF has been the topic of several research analyst reports. Piper Sandler dropped their price objective on AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. StockNews.com cut shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and reduced their price objective for the stock from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp decreased their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, AppFolio currently has an average rating of "Moderate Buy" and an average target price of $261.75.

AppFolio Trading Up 0.1 %

APPF stock traded up $0.30 during mid-day trading on Thursday, reaching $251.65. The company's stock had a trading volume of 202,779 shares, compared to its average volume of 268,384. The company's 50 day moving average is $233.57 and its two-hundred day moving average is $233.50. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The stock has a market cap of $9.14 billion, a PE ratio of 70.10 and a beta of 0.86.

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

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 2,700 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $234.05, for a total transaction of $631,935.00. Following the completion of the sale, the insider now owns 14,716 shares in the company, valued at $3,444,279.80. This trade represents a 15.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total transaction of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,606 shares of company stock valued at $7,117,857 in the last three months. 5.24% of the stock is currently owned by insiders.

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.