Principal Financial Group Inc. Buys 3,818 Shares of AppFolio, Inc. (NASDAQ:APPF)

Principal Financial Group Inc. increased its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,649 shares of the software maker's stock after purchasing an additional 3,818 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of AppFolio worth $44,816,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APPF. Blue Trust Inc. boosted its stake in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker's stock valued at $41,000 after purchasing an additional 110 shares during the period. True Wealth Design LLC purchased a new stake in shares of AppFolio during the third quarter valued at approximately $79,000. Advisors Asset Management Inc. boosted its stake in shares of AppFolio by 56.6% during the third quarter. Advisors Asset Management Inc. now owns 390 shares of the software maker's stock valued at $92,000 after purchasing an additional 141 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of AppFolio during the fourth quarter valued at approximately $123,000. Institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

Shares of APPF traded down $4.43 on Friday, reaching $211.66. The stock had a trading volume of 290,877 shares, compared to its average volume of 291,174. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 38.14 and a beta of 0.88. The company has a 50-day simple moving average of $243.31 and a 200-day simple moving average of $233.45. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at AppFolio

In related news, Director Scanlan Agnes Bundy sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.42, for a total value of $127,710.00. Following the completion of the sale, the director now directly owns 5,416 shares of the company's stock, valued at approximately $1,383,354.72. This represents a 8.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,501 shares of AppFolio stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares in the company, valued at $18,212,440.48. This represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,321 shares of company stock worth $3,034,077 over the last quarter. 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.