New York State Common Retirement Fund Has $45.11 Million Stock Position in AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund lowered its stake in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,841 shares of the software maker's stock after selling 6,081 shares during the period. New York State Common Retirement Fund owned about 0.50% of AppFolio worth $45,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in APPF. Exchange Traded Concepts LLC lifted its holdings in shares of AppFolio by 59.3% in the third quarter. Exchange Traded Concepts LLC now owns 602 shares of the software maker's stock valued at $142,000 after purchasing an additional 224 shares in the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 54 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in AppFolio by 41.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,636 shares of the software maker's stock worth $5,799,000 after purchasing an additional 7,161 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in AppFolio during the third quarter worth approximately $1,003,000. Finally, International Assets Investment Management LLC purchased a new stake in AppFolio during the third quarter worth approximately $26,040,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. William Blair reiterated an "outperform" rating on shares of AppFolio in a research note on Friday, January 31st. Piper Sandler reiterated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Finally, Stephens reissued an "overweight" rating and set a $295.00 target price on shares of AppFolio in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $276.29.

AppFolio Stock Down 1.4 %

AppFolio stock traded down $3.01 during trading hours on Friday, hitting $213.08. 163,846 shares of the company traded hands, compared to its average volume of 287,187. AppFolio, Inc. has a 1-year low of $189.01 and a 1-year high of $274.56. The firm's 50-day simple moving average is $243.31 and its two-hundred day simple moving average is $233.45. The firm has a market cap of $7.76 billion, a P/E ratio of 38.40 and a beta of 0.88.

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

Insiders Place Their Bets

In related news, Director Alexander Wolf purchased 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the transaction, the director now directly owns 3,226 shares of the company's stock, valued at $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,577 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $250.75, for a total transaction of $646,182.75. Following the completion of the sale, the insider now directly owns 2,875 shares of the company's stock, valued at $720,906.25. This trade represents a 47.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,321 shares of company stock worth $3,034,077 over the last ninety days. 5.24% of the stock is currently owned by company insiders.

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.