AppFolio, Inc. (NASDAQ:APPF) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,000 shares of the software maker's stock after purchasing an additional 10,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.15% of AppFolio worth $13,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock worth $335,000 after buying an additional 40 shares during the period. Exchange Traded Concepts LLC grew its holdings in AppFolio by 6.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker's stock worth $158,000 after acquiring an additional 40 shares in the last quarter. Independent Advisor Alliance increased its position in 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 purchasing an additional 53 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of AppFolio by 0.6% in 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 purchasing an additional 60 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of AppFolio by 11.8% in 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 period. Institutional investors own 85.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APPF. DA Davidson cut their price objective on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, April 14th. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday. Finally, Piper Sandler reissued a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research report on Wednesday. One research 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $274.43.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander Wolf bought 9,678 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price 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 in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by insiders.

AppFolio Price Performance

NASDAQ:APPF traded down $42.63 during trading hours on Friday, reaching $192.02. The company had a trading volume of 1,561,884 shares, compared to its average volume of 269,137. The firm has a market cap of $6.99 billion, a PE ratio of 34.60 and a beta of 0.86. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The business's 50 day moving average price is $218.06 and its 200-day moving average price is $230.87.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. On average, analysts expect that AppFolio, Inc. will post 3.96 earnings per share 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.