State Street Corp Grows Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

State Street Corp lifted its holdings in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,136 shares of the software maker's stock after purchasing an additional 49,238 shares during the period. State Street Corp owned 1.80% of AppFolio worth $153,748,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CWM LLC grew its position in shares of AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock worth $36,000 after buying an additional 105 shares during the period. SG Americas Securities LLC increased its stake in AppFolio by 160.0% in the second quarter. SG Americas Securities LLC now owns 3,895 shares of the software maker's stock valued at $953,000 after purchasing an additional 2,397 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of AppFolio by 1.0% during the second quarter. Retirement Systems of Alabama now owns 25,903 shares of the software maker's stock valued at $6,335,000 after purchasing an additional 254 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker's stock valued at $59,137,000 after purchasing an additional 28,673 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of AppFolio by 4.1% in the 2nd quarter. State of Michigan Retirement System now owns 5,100 shares of the software maker's stock valued at $1,247,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 85.19% of the company's stock.

Insider Buying and Selling

In other news, insider Matthew S. Mazza sold 926 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the sale, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Shane Trigg sold 4,145 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $263.32, for a total value of $1,091,461.40. Following the completion of the transaction, the chief executive officer now owns 73,682 shares in the company, valued at approximately $19,401,944.24. The trade was a 5.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,806 shares of company stock worth $7,164,293. 5.24% of the stock is owned by company insiders.

Analyst Ratings Changes

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

AppFolio Price Performance

Shares of APPF stock traded down $4.37 on Friday, hitting $259.18. The stock had a trading volume of 150,417 shares, compared to its average volume of 269,447. The business has a 50 day moving average of $230.94 and a 200 day moving average of $232.77. AppFolio, Inc. has a 12-month low of $164.29 and a 12-month high of $274.56. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 72.20 and a beta of 0.86.

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

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.